LOAN AND TRUST CORPORATIONS'
STATEMENTS
BEING
ABSTRACTS FROM FINANCIAL STATEMENTS
FILED BY
LOAN CORPORATIONS AND TRUST COMPANIES
FOR THE YEAR ENDED DECEMBER 37, 7965
PRINTED BY ORDER OF
THE LEGISLATIVE ASSEMBLY OF ONTARIO
ONTARIO
TORONTO
Printed and Published by Frank Fogg, Queen's Printer
1966
NOTE
Section 132 of The Loan and Trust Corporations Act (Revised
Statutes of Ontario, 1960, Chapter 222) provides as follows: —
132. — (1) No corporation shall, under the penalty of becoming
disentitled to registry or of having its registry suspended or cancelled,
make, print, publish, circulate, authorize, or be a party or privy to
the making, printing, publishing, or circulating of any statement or
representation that its solvency or financial standing is vouched for
by the Registrar or that the publication of its statement in his report
is a warranty of representation of the solvency of the corporation, or
of the truth or accuracy of the statement in any particular.
CONTENTS
PAGE
Report to the Minister of Financial and Commercial Affairs v
Regulations made under The Loan and Trust Corporations Act x
Detailed Reports:
Loan Corporations 1
Trust Companies 59
Tabulated Summaries of the Annual Statements as filed by registered corporations:
Loan Corporations —
Assets 168
Liabilities 169
Shareholders Equity 170
Undivided Profits 171
Revenue 172
Expenditure 174
Trust Companies —
Company Funds —
Assets 178
Liabilities and Shareholders Equity 179
Undivided Profits 180
Revenue 181
Expenditure 183
Guaranteed Funds —
Assets 186
Liabilities 187
Revenue 188
Expenditure 189
Estates, Trusts and Agencies 190
Mortgages and Agreements on Real Estate classified as to Province:
Loan Corporations 192
Trust Companies (Company funds) 194
Trust Companies (Guaranteed funds) 196
Comparative Summary of Assets and Liabilities of:
Loan Corporations 200
Trust Companies (Company funds) 202
Trust Companies (Guaranteed funds) 204
Summary of Income and Expenditure of Loan and Trust Corporations 206
Average Rates of Interest Earned and Dividends Paid 208
Statements of Deposits and Securities:
December 31, 1965 210
June 30, 1966 212
List of Corporations registered as at December 31, 1965:
Loan Corporations V^16
Trust Companies
Review of 1966 Legislation 218
m
ONTARIO
DEPARTMENT OF FINANCIAL AND COMMERCIAL AFFAIRS
OFFICE OF THE SUPERINTENDENT OF INSURANCE
To: The Honourable H. L. Rowntree, Q.C.,
Minister of Financial and Commercial Affairs
Sir: ' > w •• \ '
I have the honour to submit herewith, as required by the Loan and Trust
Corporations Act, the Sixty-Ninth Annual Report of the Registrar of Loan and Trust
Corporations. It shows the particulars of the business of each loan corporation and
trust company registered and conducting business in Ontario during 1965 as ascertained
from the annual and other returns and from inspections and enquiries made. Detailed
statements of the individual corporations in alphabetical order are grouped into these
two classifications. The officers and directors shown, are those reported at the date
of filing the annual statement. In addition, statistical tables, tabulated summaries and
comparative statements are included as set out in the table of contents.
A list of registered corporations as at December 31, 1965, showing the location
of their chief offices in Ontario, the names of their principal officers and the dates of
their incorporation appears on pages 2 1 6 and 217.
The following registry changes have taken place since the date of my last report: —
Loan Corporations
Muttart Mortgage Corporation,
Incorporated by Canada, 1962; Registered July 3, 1962; Discontinued
operations in December, 1965; Registry discontinued June 30, 1966.
International Savings and Mortgage Corporation,
Incorporated by Canada, 1920; Registered June 13, 1966.
(v)
Trust Companies
The Alberta Fidelity Trust Company,
Incorporated by Alberta, 1912; Registered December 29, 1966; limited solely
to the making of mortgage loans.
Standard Trust Company,
Incorporated by Canada, 1963; Registered August 16, 1966.
SUMMARY OF COMPANIES REGISTERED IN
THE PROVINCE OF ONTARIO
Ontario Loan
Ontario Trust
Extra-Provincial Loan
Extra-Provincial Trust
Foreign Trust
Federal Loan
Federal Trust
TOTAL REGISTERED
Loan Corporations
Trust Companies ...
Dec. 31
1965
11
17
3
7
3
9
7
57
23
34
Dec. 31
1964
11
18
3
7
3
8
7
57
22
35
Dec. 31
1960
35
9
26
Dec. 31
1*55
3
10
1
6
2
3
8
33
7
26
REVIEW OF 1965 BUSINESS
Loan Corporations
Total assets of loan corporations amount to $1,569,568,223, an increase of
$247,698,903 over 1964 and $976,561,550 above the 1960 figure. These assets
were invested in the following manner :
(000 Omitted)
1965
1964
1960
%
%
%
Book
To Total
Book
To Total
Book
To Total
Value
Assets
Value
Assets
Value
Assets
$
$
$
Mortgages
1,259,865
80.27
1,032,653
78.13
469,004
79.1
Bonds
127,434
8.12
131,550
9.95
71,458
12.1
Stocks
58,552
3.73
51,274
3.88
23,700
4.0
Collateral Loans
11,977
.76
5,603
.42
1,412
0.2
Cash
45,640
2.91
54,156
4.10
9,963
1.7
Other Assets
66,100*
4.21
46,633*
3.52
17,470*
2.9
Total Assets
1,569,568
100.0
1,321,869
100.0
593,007
100.0
* Accrued interest and dividends on mortgages, bonds, stocks and collateral loans are included in
"Other Assets".
The following Table shows the public liability of Loan Corporations.
Year
(000 Omitted)
Deposits
Debentures Payable
$ 34,188
$ 97,141
89,074
116,705
126,691
188,690
140,927
355,748
180,845
420,348
225,091
505,254
270,838
571,370
370,650
702,685
398,828
861,897
1940
1950
1955
1960
1961
1962
1963
1964
1965
Note: Figures do not include accrued interest.
(vi)
Trust Companies
Exclusive of amounts held for estates, trusts and agencies, the combined Company
and Guaranteed Fund Assets at the end of 1965 amount to $3,164,651,684 an increase
of $511,221,406 over the 1964 figure of $2,653,430,278. The combined total in
1960 amounted to $1,225,882,000.
The Company Fund Assets now stand at $240,571,592 an increase of
$28,168,121 over 1964. The Guaranteed Fund Assets were increased by
$483,053,285. The increase in 1960 was $210,134,000.
Total Assets of Company and Guaranteed Funds were invested as follows :
(000 Omitted)
1965
1964
1960
%
%
%
Book
To Total
Book
To Total
Book
To Total
Value
Assets
Value
Assets
Value
Assets
Mortgages
$
1,772,206
56.0
$
1,354,675
51.1
$
448,737
36.6
Bonds
1,047,515
33.1
1,005,033
37.9
616,577
50.3
Stocks
70,101
2.2
60,475
2.3
37,012
3.0
Collateral Loans
93,333
2.9
80,610
2.9
51,366
4.2
Cash
85,732
2.7
73,050
2.8
38,108
3.1
Other Assets
95,765"
3.1
79,587*
3.0
34,082*
2.8
Total Assets
3,164,652
100.0
2,653,430
100.0
1,225,882
100.0
* Accrued interest and dividends on mortgages, bonds, stocks and collateral loans are included
in "Other Assets".
The following Table shows the growth of moneys received for guaranteed
investment by Trust Companies.
(000 Omitted)
Year
Deposits
Guaranteed
Receipts
Total
1940
$ 57,117
$ 77,935
$135,052
1950
152,749
165,984
318,733
1955
266,797
308,196
574,993
1960
416,647
687,068
1,103,715
1961
524,137
845,720
1,369,857
1962
590,346
1,037,337
1,627,683
1963
774,672
1,238,052
2,012,724
1964
973,042
1,444,075
2,417,117
1965
1,070,378
1,827,498
2,897,876
Note: Figures do not include accrued interest.
Public Liability — Loan and Trust Companies Combined
The combined public liability of loan and trust Corporations, consisting of demand
deposits held by both loan and trust Corporations, debentures payable by loan Corpora-
tions and guaranteed investment certificates issued by trust companies, amount to
$4,158,601,000. The combined public liability was $3,490,452,000 in 1964 and
$1,600,390,000 in 1960.
(vii)
Total deposits, held by loan and trust Corporations combined, appear as follows :
(Millions of Dollars)
Year
Total
Deposits
Year
Total
Deposits
1940
91
242
393
558
1961
705
815
1,046
1,344
1,469
1950
1962
1955
1963
I960
1964
1965
Note : Figures do not include accrued interest.
Deposits held by loan and trust Corporations increased by $125,000,000 in 1965
to a record high of $1,469,000,000. Investments by the public in loan Corporation
debentures and guaranteed investment certificates issued by trust companies increased
by $542,635,000 to $2,689,395,000, a new high.
Estates, Trusts and Agency Funds
Total assets under administration by all trust companies increased in 1965 by
$1,279,006,000 to a record total of $1 1,922,153,000.
The following Table shows assets under administration by Trust Companies.
(000 Omitted)
Year
Total
Assets
Year
Total
Assets
1940
$
2,439,188
3,267,472
4,416,446
7,068,901
1961
$
7,815,792
8,690,719
9,585,985
10,643,147
11,922,153
1950
1962
1955
1963
1960
1964
1965
Mortgage Loans
The increase in mortgage investment in 1965 was $644,643,000, bringing the
total invested at balance sheet figures to $3,032,071,000. The increase in 1960 was
$114,481,000. Loan Corporations accounted for $227,212,000 of the increase while
there was a net increase in all Trust Company mortgage loans of $417,531,000.
The percentage of total assets invested in mortgages by loan corporations was
80.3% in 1965, 78.1% in 1964. The percentage in 1960 was 79.1%. Investment
by trust companies in mortgages in 1965 was 56.0% compared with 51.1% in 1964
and 36.6% in 1960.
Among the statistical tables will be found summaries of mortgage loans
segregated by provinces, based on gross book values before deducting special reserves
for balance sheet purposes. Up to 1960 the balance sheets showed mortgages including
accrued interest. Since 1961 mortgage principal has been shown separately.
Bonds and Debentures
Total holdings of bonds, as shown on the balance sheet, by loan and trust
corporations combined, amount to $1,174,949,000 compared with $1,136,583,000
in 1964 and $558,000,000 in 1960.
(viii)
Total bonds (excluding accrued interest) of all classes now held represent
24.82% of the total assets compared with 28.59% in 1964 and 28.23% in 1960.
Stocks
Total holdings of stocks, as shown on the balance sheet, by loan and trust
corporations combined, amount to $128,653,000, compared with $111,749,000 in
1964 and $60,7 12,000 in 1960.
Earnings and Dividends
The following Table shows the profits and dividends for loan corporations and
for trust companies in 1965, 1964 and 1960.
(000 Omitted)
1965
1964
1960
T a*m Padded a ttamc
Profits before transfers to Investment Reserves
Transfers to Investment Reserves (net)
$
20,800
3,368
$
18,212
2,578
$
10,569
1,370
Profits
17,432
6,532
15,634
6,442
9,199
4,369
Income Taxes
Profits after Income Taxes
10,900
6,502
9,192
5,997
4,830
3,828
Balance
4,398
3,195
1,002
Trust Companies
Profits before transfers to Investment Reserves
Transfers to Investment Reserves (net)
$
32,583
1,988
$
32,273
3,490
$
16,511
1,174
Profits
30,595
13,597
28,783
13,488
15,337
7,052
Income Taxes
Profits after Income Taxes
Dividends
16,998
9,590
15,295
8,389
8,285
5,004
Balance
7,408
6,906
3,281
Liquid Position
The percentage of liquid securities held by loan and trust companies to deposits
held by them was 45.08% on June 30, 1965 and 53.40% on December 31, 1965.
The liquidity on June 30 and December 31, 1964 was 51.37% and 62.11%
respectively.
All of which is respectfully submitted.
C. RICHARDS, F.C.A.
Registrar of Loan and Trust Corporations.
December 30, 1966.
(ix)
EXTRACT FROM REGULATIONS MADE UNDER THE LOAN AND
TRUST CORPORATIONS ACT
(Regulation 413, Revised Regulations of Ontario, 1960)
as of September 30, 1966.
For the purpose of subsection 2 of section 83 of the Act, each of the Companies
named in Schedule 1 is approved as being acceptable as a trust company for the purposes
of the Supreme Court.
SCHEDULE 1
Administration and Trust Company
Canada Permanent Trust Company
The Canada Trust Company
Crown Trust Company
Eastern & Chartered Trust Company
Guaranty Trust Company of Canada
Halton & Peel Trust & Savings Company
Hamilton Trust and Savings Corporation
Investors Trust Company
The Industrial Mortgage and Trust Company
The Lambton Trust Company, Limited
International Trust Company
The Metropolitan Trust Company
Montreal Trust Company
National Trust Company, Limited
Northland Trust Company
The Premier Trust Company
The Royal Trust Company
The Sterling Trusts Corporation
Victoria and Grey Trust Company
The Waterloo Trust and Savings Company
York Trust and Savings Corporation
(x)
I. LOAN CORPORATIONS
DETAILED REPORTS OF THE SEVERAL
CORPORATIONS
i
Loan Corporations — Detailed Reports
3
CANADA PERMANENT MORTGAGE CORPORATION
Head Office, Toronto, Ont.
Officers
President, C. F. Mackenzie; Vice-Presidents, T. D'Arcy Leonard; H. S. Gooderham;
J. A. MacAulay; L. M. Savage; A. T. Lambert; W. L. Knowlton; D. K. Tow; General
Manager, J. W. Rose, Jr.; Secretary, G. D. Laverock; Treasurer, F. A. Worth.
Directors
N. S. Robertson; B. R. B. Magee; T. D'A. Leonard; H. S. Gooderham; J. A. MacAulay;
L. M. Savage; A. T. Lambert; C. F. Mackenzie; C. M. A. Strathy; W. L. Knowlton;
F. G. Gardiner; D. K. Tow; A. B. Matthews; B. Matthews; A. L. Bishop; E. G. Burton;
E. S. Frosst; W. C. Harris; J. K. MacDonald; G. F. MacLaren; J. J. MacLaren; D. A.
Mackintosh; W. H. Mowat; J. W. Rose; C. Sifton; F. G. Winspear.
Auditors
K. A. Mapp, F.C.A., and C. C. Mackechnie, F.C.A.
Branch Offices
Toronto, Winnipeg, Vancouver, St. John, Edmonton, Regina, Woodstock, Halifax, Brantford,
Hamilton, Montreal, Port Hope, Victoria, London, Kitchener, Calgary, Sault Ste. Marie, Windsor,
Oshawa, Saskatoon, Chilliwack, Ottawa, Sudbury, Fredericton, Oakville, Gait, Port Arthur,
Dawson Creek, Dartmouth, Saint John, Sarnia, Prince George, Penticton, Charlottetown.
Commenced Business in Ontario 1855.
Capital Stock
Authorized Amount— $20,000,000. No. of Shares— 10,000,000. Par Value— $2.
Shares subscribed and amounts paid in — 5,325,500 shares $ 10,651,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(At Book Value)
Office Premises $ 10,150,000
Furniture, Fixtures, Leasehold Improvements 887,765
Real Estate held for Sale 164,084
Mortgage Loans on Real Estate and Agreements of Sale :
First Mortgages $370,413,789
Agreements of Sale 160,976
Interest Due and Accrued 9,432,918
380,007,683
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 1,810,392
Interest Due and Accrued 5,966
1,816,358
Bonds and Debentures $ 47,900,115
Interest Accrued 495,265
48,395,380
Stocks $ 27,378,197
Dividends Accrued 50
27,378,247
Cash on Hand $ 2,393,004
Cash on Deposit — With Chartered Banks in Canada 9,219,956
11,612,960
Total Assets $480,412,477
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $281,470,093
Interest Due and Accrued 7,626,761
$289,096,854
Money on Deposit $143,047,018
Interest Accrued 802,396
143,849,414
4 Annual Report — Registrar of Loan and Trust Corporations
CANADA PERMANENT MORTGAGE CORPORATION (Cont'd)
Taxes Other than on Real Estate 780,000
Dividends Payable 798,825
Investment Reserves 6,268,885
All Other Liabilities 27,929
$440,821,907
To Shareholders
Paid in Capital 10,651,000
Reserve Fund 28,500,000
Balance in Profit and Loss Account 439,570
$480,412,477
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 141,529
Add:
Amount Transferred from Revenue Account 3,309,201
Premium on Capital Stock sold during year 5,325,500
Amount received through sale of rights 6,560
$ 8,782,790
Deduct:
Dividends to Shareholders Declared During Year 2,343,220
Transfer to Reserve Fund 6,000,000
Balance at end of the Year $ 439,570
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 496,900
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 26,040,059
Collateral Loans 92,381
Bonds and Debentures 2,524,040
Stocks 1,423,480
Bank Deposits 23,646
30,103,606
Agency Fees and Commissions Earned 35,168
Gross Profit on Sale of Securities and Real Estate 541,791
Other Revenue 80,720
$ 31,258,185
Expenditure
Interest Incurred on:
Debentures $ 14,057,444
Deposits 4,595,201
$ 18,652,645
Licence Fees and Taxes (Other than Income and Real Estate Taxes) 132,823
Commissions on Sale of Debentures 171,783
Commissions — Other 511,983
All Other Expenses Incurred:
Advertising $ 333,139
Audit Fees 58,500
Directors' Fees 44,875
Furniture and Fixtures 97,028
Legal Fees 21,940
Office Maintenance 19,778
Postage, Telegrams, Telephones and Express 137,987
Printing and Stationery 122,598
Rents 705,157
Salaries 2,809,889
Staff Pension Plan 229,378
Travelling 39,778
Miscellaneous 1,004,872
5,624,919
Loan Corporations — Detailed Reports 5
CANADA PERMANENT MORTGAGE CORPORATION (Concl'd)
Gross Loss on Sale of Securities and Real Estate 16,827
Amounts Transferred to Investment Reserves 940,000
Total Expenditure Excluding Income Taxes $ 26,050,980
Provision for Income Taxes 1,898,004
Net Profit Transferred to Profit and Loss Account 3,309,201
$ 31,258,185
MISCELLANEOUS
Dividends and bonuses declared during the year — $2.35 per share.
The officers and employees of the Company are bonded by a blanket bond for $5,000,000 covering
any one person.
CONSTATING INSTRUMENTS
This Corporation was incorporated under Special Act of the Dominion of Canada, 62-63
Victoria (1899), c. 101, under the name of "The Canada Permanent and Western Canada Mortgage
Corporation", for the purpose of acquiring the assets and business of the Canada Permanent Loan
and Savings Company, the Western Canada Loan and Savings Company, the Freehold Loan and
Savings Company, and The London and Ontario Investment Company Limited, which several
purchases were confirmed by Special Act of Ontario, 63 Victoria, 1900, c. 129. The name was
changed to the "Canada Permanent Mortgage Corporation" by 3 Edward VII (1903), c. 94 (D),
which Act also amended its lending powers. By 3-4 George V (1913), c. 86 (D) further amend-
ments were made to the Incorporating Act.
Of the constituent companies, the Canada Permanent Loan and Savings Company was
incorporated by declaration filed under The Building Societies Act (Cons. Stat. U.C., c. 53) in
1855, under the name of the Canada Permanent Building and Savings Society, which name was
changed to the Canada Permanent Loan and Savings Company by 37 Victoria (Ontario), 1874,
c. 100.
The Western Canada Loan and Savings Company was also incorporated by declaration filed
under The Building Societies Act in 1863, under the name of the Western Canada Permanent
Building and Savings Society, and its name was changed to the Western Canada Loan and
Savings Company by 37 Victoria (Ontario), 1874, c. 79.
The Freehold Loan and Savings Company was also incorporated by declaration filed under
The Building Societies Act in 1859, under the name of The Freehold Permanent Building and
Savings Society, the name being changed to The Freehold Loan and Savings Company by 36
Victoria (Ontario), 1873, c. 104.
The London and Ontario Investment Company was incorporated by the Act of Ontario,
39 Victoria, 1876, c, 62.
The Corporation purchased the assets and business of the following pursuant to The Loan
and Trust Corporations Act :
1918 — The Oxford Permanent Loan and Savings Society — ratified by Order-in-Council,
Ontario, July 31, 1918.
1921 — The London and Canadian Loan and Agency Company Limited — ratified by Order-
in-Council, Ontario, September 23, 1921.
1927 — The Royal Loan and Savings Company — ratified by Order-in-Council, Ontario,
March 4, 1927.
— The British Columbia Loan Company, Vancouver, B.C.
— The Canadian Landed and National Investment Company Limited — ratified by
Order-in-Council, Ontario, March 30, 1927.
1944 — The Landed Banking and Loan Company — ratified by Order-in-Council, Ontario,
October 18, 1944.
1945 — The Real Estate Loan Company of Canada Limited — ratified by Order-in-Council,
Ontario, February 2, 1945.
1946 — The Montreal Loan and Mortgage Company, Montreal, Quebec.
1948 — The Midland Loan and Savings Company — ratified by Order-in-Council, Ontario,
December 4, 1947.
1958 — The Toronto Mortgage Company — ratified by Order-in-Council, Ontario, February
26, 1959.
By Order-in-Council dated May 21, 1959, amount borrowed by way of debentures and
deposits was increased to a sum not exceeding die aggregate of its cash and twelve and one-half
times the combined amounts of its paid-in-capital and reserve.
6
Annual Report
— Registrar of Loan and Trust Corporations
CANADIAN FIRST MORTGAGE CORPORATION
Head Office, Toronto, Ont.
Officers
President, J. E. Coyne; Vice-Presidents, T. Wilding; G. P. Osler; S. M. Stevens; Secretary/
Treasurer, P. B. MacDonald.
Directors
J. E. Coyne; S. M. Stevens; P. B. MacDonald; T. Wilding; G. P. Osler; W. S. Hawkins;
R. J. Hassard.
Auditors
Clarkson, Gordon & Co., Toronto.
Commenced Business in Ontario, November 1, 1963.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 500,000. Par Value— $10.
Shares subscribed and amounts paid in — 120,131 shares $ 1,111,310
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(At Book Value)
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 4,226,852
Interest Due and Accrued 25,555
$ 4,252,407
Bonds and Debentures $ 2,772,799
Interest Accrued 45,218
2,818,017
Stocks $ 1,309,225
Dividends Accrued 6,866
1,316,091
Cash on Deposit — With Chartered Banks in Canada 12,181
All Others Assets 6,266
Total Assets $ 8,404,962
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 3,000,000
Interest Due and Accrued 28,839
$ 3,028,839
Money on Deposit $ 270,000
Interest Accrued 2,386
272,386
Borrowed Money $ 3,740,000
Interest Due and Accrued 6,209
3,746,209
Dividends Payable 11,113
All Other Liabilities 52,906
$ 7,111,453
To Shareholders
Paid in Capital 1,111,310
Reserve Fund 105,455
Balance in Profit and Loss Account 76,744
$ 8,404,962
Loan Corporations — Detailed Reports 7
CANADIAN FIRST MORTGAGE CORPORATION (Concl'd)
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 56,755
Add:
Amount Transferred from Revenue Account 97,207
$ 153,962
Deduct:
Dividends to Shareholders Declared During Year I 42,218
Transfer to Reserve Funds 35,000
Balance at end of the Year $ 76,744
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ i 264,083
Bonds and Debentures 166,476
Stocks 70,234
Others Assets 4,619
$ 505,412
Gross Profit on Sale of Securities and Real Estate 36,57 1
$ 541,983
Expenditure
Interest Incurred on:
Debentures $ 125,440
Deposits 165,922
Borrowed Money 91, 125
$ 382,487
Licence Fees and Taxes (Other than
Income and Real Estate Taxes 669
All Other Expenses Incurred:
Audit Fees $ 3,450
Legal Fees 1,182
Office Maintenance 603
Printing and Stationery 2,620
Salaries 11,200
Miscellaneous 30,565
49,620
Total Expenditures Excluding Income Taxes $ 432,776
Provision for Income Taxes 12,000
Net Profit Transferred to Profit and Loss Account 97,207
$ 541,983
MISCELLANEOUS
Dividends and bonuses declared during year — one at 8c. per fully paid share; 0.8c. per partly
paid share; three at 10c. per fully paid share; lc. per partly paid share.
The officers and directors of the Company are bonded for $1,000,000 by a blanket bond.
CONSTATING INSTRUMENTS
Incorporated as a Loan Corporation by issue of Letters Patent dated September 27, 1963
under The Loan and Trust Corporations Act of Ontario.
Order-in-Council June 24, 1964 increased borrowing power to eight times capital and reserves
plus cash.
Order-in-Council July 8, 1965 increased borrowing power to 12V4 times capital and reserves
plus cash.
8
Annual Report —
Registrar of Loan and Trust Corporations
THE CANBOROUGH CORPORATION
Head Office, Toronto, Ont
Officers
President, E. H. Ainlay; Vice-Presidents, G. H. Wemp; G. Morrow; General Manager,
W. R. Thomas; Secretary, D. MacNab.
Directors
E. H. Ainlay; E. H. Crawford; G. Morrow; G. J. van den Berg; H. H. Wilson; G. E.
Wemp, H. G. Willis.
Auditors
Clarkson, Gordon & Co.
Commenced Business in Ontario, May 3, 1962.
Capital Stock
Authorized Amount— $10,000,000. No. of Shares— 100,000. Par Value— $100.
Shares subscribed and amounts paid in — 40,000 shares $ 4,000,000
BALANCE SHEET AS AT NOVEMBER 30, 1965
Assets
(At Book Value)
Mortgage Loans on Real Estate and Agreements of Sale :
First Mortgages $ 41,828,966
Interest Due and Accrued 631,650
$ 42,460,616
Bonds and Debentures $ 5,087,373
Interest Accrued 56,161
5,143,534
Cash on Deposit — With Chartered Banks in Canada 305
All Other Assets 168,962
Total Assets $ 47,773,417
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 17,400,000
Interest Due and Accrued 330,559
$ 17,730,559
Money on Deposit $ 24,545,000
Interest Accrued 69,170
24,614,170
Borrowed Money $ 796,000
Interest Due and Accrued 1,047
797,047
Taxes Other than on Real Estate 770
Dividends Payable 40,000
All Other Liabilities 461,892
$ 43,644,438
To Shareholders
Paid in Capital 4,000,000
Balance in Profit and Loss Account 128,979
$ 47,773,417
Loan Corporations — Detailed Reports
9
THE CANBOROUGH CORPORATION (Concl'd)
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 145,886
Add:
Amount Transferred from Revenue Account 195,093
$ 340,979
Deduct:
Dividends to Shareholders Declared During Year 200,000
Underwriting fee for debentures issued in prior years 12,000
Balance at end of the Year $ 128,979
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 2,348,619
Bonds and Debentures 240,897
$ 2,589,516
Gross Profit on Sale of Securities and Real Estate 638
$ 2,590,154
Expenditure
Interest Incurred on:
Debentures $ 817,358
Deposits 1,073,753
Borrowed Money 54,830
$ 1,945,941
Commissions on Sale of Debentures 28,442
Commissions — Other 41,280
All Other Expenses Incurred:
Audit Fees $ 1,500
Furniture and Fixtures 467
Legal Fees 3,675
Postage, Telegrams, Telephones and Express 3,929
Rents 3,067
Salaries 18,118
Miscellaneous 151,142
181,898
Total Expenditure Excluding Income Taxes $ 2,197,561
Provision for Income Taxes 197,500
Net Profit Transferred to Profit and Loss Account 195,093
$ 2,590,154
MISCELLANEOUS
Dividend and bonuses declared during year — $4.50 per share.
The directors, officers and employees are bonded for $100,000 by a Broker's blanket bond.
CONSTATING INSTRUMENTS
Incorporated under The Loan and Trust Corporations Act, R.S.O., Chapter 222 by issue of
Letters Patent dated May 3, 1962 with Head Office in the City of Toronto, and registered as a
Loan Corporation May 25, 1962.
By Order-in-Council dated July 5, 1962, amount borrowed by way of debentures and deposits
may be increased to a sum not exceeding the aggregate of its cash and twelve and one-half times
the combined amounts of its paid-in capital and reserve fund.
10
Annual Report —
Registrar of Loan and Trust Corporations
COMMONWEALTH SAVINGS & LOAN CORPORATION
Head Office, Toronto, Out.
Officers
President, Mark Tanz; Vice-Presidents, G. S. Mann; R. W. Macaulay; General Manager,
J. W. M. Campbell; Secretary, Allan C. Rose; Comptroller, S. A. Senn.
Directors
Mark M. Tanz; Bernhard J. Persiko; Michael Greenberg; Burton Winberg; Leon
E. Weinstein; Eric D. Scott; Robert Moran; George S. Mann; Robert William Macaulay;
C. Stafford Smythe.
Auditors
Pape, Strom, Sherman & La vine, Toronto. Thorne, Mulholland, Howson & Mac-
pherson, Toronto.
Branch Offices
Ottawa, Toronto, Cornwall, Kingston and Windsor.
Commenced Business in Ontario 1959.
Capital Stock
Authorized Amount— $2,000,000. No. of Shares— 400,000. Par Value— $5.
Shares subscribed and amounts paid in — 389,108 $ 1,945,540
BALANCE SHEET AS AT DECEMBER 31, 1965
(At Book Value)
Office Premises $ 758,031
Furniture, Fixtures & Leasehold Improvements 333,428
Real Estate held for Sale 3 15,247
Mortgage Loans on Real Estate and Agreements of Sale:
Second Mortgages, etc
Interest Due and Accrued
Loans Secured by Bonds, Stocks and Other Collateral:
Principal
Interest Due and Accrued
Bonds and Debentures
Interest Accrued
Stocks
Dividends Accrued
$
14,922,822
201,913
100,423
$
540,923
8,406
$
4,011,521
42,694
$
2,764,452
9,473
$
215,373
—120,758
13,308
15,225,158
549,329
4,054,215
2,773,925
Cash on Deposit — With Chartered Banks in Canada
— Elsewhere
107,923
All Other Assets 108,680
Total Assets $ 24,225,936
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 3,699,935
Interest Due and Accrued $ 49,356
Money on Deposit $ 16,701,724
Interest Accrued 73,153
3,749,291
16,774,877
Loan Corporations — Detailed Reports 1 1
COMMONWEALTH SAVINGS & LOAN CORPORATION (Cont'd)
Borrowed Money 809,000
Investment Reserves 100,000
All Other Liabilities 324,257
$ 21,757,425
To Shareholders
Paid in Capital 1,945,540
Reserve Fund 22,000
Balance in Profit and Loss Account 500,971
$ 24,225,936
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 194,309
Add:
Amount Transferred from Revenue Account 136,274
Premium on Capital Stock 546,541
$ 877,124
Deduct:
Dividends to Shareholders Declared During Year 87,153
Branch Development Expenses 289,000
Balance at end of the Year $ 500,971
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 7,298
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 952,385
Collateral Loans 37,514
Bonds and Debentures 203,174
Stocks 89,129
Bank Deposits 6,689
Other Assets 15,413
1,304,304
Gross Profit on Sale of Securities and Real Estate 18,1 11
Other Revenue 70,297
$ 1,400,010
Expenditure
Interest Incurred on:
Debentures $ 227,860
Deposits 517,120
Borrowed Money 36,380
$ 781,360
Licence Fees and Taxes (Other than
Income and Real Estate Taxes) 4,553
Commissions on Sale of Debentures 615
All Other Expenses Incurred:
Advertising $ 18,782
Audit Fees 8,159
Legal Fees 7,314
Office Maintenance 12,143
Postage, Telegrams, Telephones and Express 13,845
Printing and Stationery 9,021
Rents 45,414
Salaries 231,058
12
Annual Report —
Registrar of Loan and Trust Corporations
COMMONWEALTH SAVINGS & LOAN CORPORATION (Concl'd)
Travelling ....
Miscellaneous
10,960
120,512
477,208
Total Expenditure Excluding Income Taxes
Net Profit Transferred to Profit and Loss Account
$ 1,263,736
* 136,274
$ 1,400,010
* Before charging Branch Development Expenses $289,000 (Charged to Profit and Loss Account).
Dividends and bonuses declared during the year — 25c. per share.
The officers and employees of the Company are bonded for $1,000,000 by a blanket position bond.
Incorporated under The Loan and Trust Corporations Act by issue of Letters Patent dated
June 18, 1959 with Head Office in the City of Ottawa and registered as a Loan Corporation on
July 10, 1959.
By Order-in-Council dated March 7, 1963, amount borrowed by way of debentures and
deposits may be increased to a sum not exceeding its cash and six times the combined amounts
of its paid-in capital and reserve fund.
By Order-in-Council, October 19, 1963, changed name to Commonwealth Savings & Loan
Corporation with Head Office in Toronto.
By Order-in-Council, October 31, 1963, changed par value of shares to $5 each and number
of shares from 200,000 to 400,000.
By Order-in-Council, October 15, 1964, amount borrowed by way of debentures and deposits
may be increased to a sum not exceeding its cash and ten times the combined amounts of its
paid-in capital and reserve fund.
MISCELLANEOUS
CONSTATING INSTRUMENTS
Loan Corporations — Detailed Reports
13
CORONATION MORTGAGE CORPORATION
Head Office, Toronto, Ont.
Officers
President, D. L. Clayton; Secretary, H. D. Madden; Treasurer, R. H. Pinder.
Directors
D. L. Clayton; D. S. Beatty; W. J. Ferguson; G. D. Sherwood; W. F. Mitchell.
Auditors
Price, Waterhouse & Co., Toronto.
Branch Offices
Vancouver, Calgary, Edmonton, Toronto, Hamilton, London, Ottawa, Sault Ste. Marie,
Sudbury, Montreal, Quebec, Halifax.
Commenced Business in Ontario 1965.
Capital Stock
Authorized Amount $1,000,000. No. of Shares— 10,000. Par Value— $100.
Shares subscribed and amounts paid in 10,000 shares $ 502,500
BALANCE SHEET AS AT OCTOBER 31, 1965
Assets
(At Book Value)
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 1,209,264
Interest Due and Accrued 7,174
$ 1,216,438
Cash on Deposit — With Chartered Banks in Canada 15,326
All Other Assets 2,081
Total Assets $ 1,233,845
Liabilities
To the Public
Borrowed Money $ 726,791
All Other Liabilities 26,223
$ 753,014
To Shareholders
Paid in Capital 502,500
Balance in Profit and Loss Account — Deficit $ — 21,669
$ 1,233,845
PROFIT AND LOSS ACCOUNT
Amount Transferred from Revenue Account $ — 21,669
Balance at End of the Year — Deficit $ —21,669
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 35,649
Collateral Loans 9,180
$ 44,829
Other Revenue 2,807
$ 47,636
14
Annual Report —
Registrar of Loan and Trust Corporations
CORONATION MORTGAGE CORPORATION (Concl'd)
Expenditure
Interest Incurred on:
Borrowed Money $ 14,979
Licence Fees and Taxes (Other than Income and Real
Estate Taxes 1,382
Commissions — Other 8,835
All Other Expenses Incurred:
Advertising $ 7,729
Audit Fees 100
Legal Fees 19,715
Printing and Stationery 4,807
Salaries 8,220
Travelling 1,227
Miscellaneous 2,3 1 1
44,109
Total Expenditure Excluding Income Taxes $ 69,305
Net Loss Transferred to Profit and Loss Account — 21,669
$ 47,636
MISCELLANEOUS
The officers and employees of the company are bonded up to $1,000,000 under a contract
with U.S.F. & C. Co. Policy includes theft and dishonesty of currency, mortgage contracts and
fixtures.
CONSTATING INSTRUMENTS
Date of Incorporation October 22, 1964 under the Loan & Trust Corporations Act of Ontario.
Loan Corporations — Detailed Reports
15
COUNTY SAVINGS AND LOAN CORPORATION
Head Office, Toronto, Ont.
Officers
President, D. Ades; Vice-President, R. McCreath; General Manager, D. Ades; Secretary,
W. Lawrence; Treasurer, P. Rudson.
Directors
D. Ades; B. Arnold; F. Austin; R. de Carli; A. Frampton; E. Gambin; H. Godin; W.
Lawrence; R. McCreath; P. Rudson.
Auditors
Winspear, Higgins, Stevenson and Doane, Toronto.
Commenced Business in Ontario 1965.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 500,000. Par Value— $10.
Shares subscribed and amounts paid in 58,050 shares $ 580,500
BALANCE SHEET AS AT DECEMBER 31, 1965
(At Book Value)
Furniture, Fittings and Leasehold Improvements $ 51,902
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 901,110
Interest Due and Accrued 4,760
905,870
Bonds and Debentures $ 150,088
Interest Accrued 1,650
151,738
Stocks 5,702
Cash on Hand $ 14,988
Cash on Deposit — With Chartered Banks in Canada 12,589
27,577
All Other Assets 6,358
Total Assets $ 1.149,147
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 45,645
Interest Due and Accrued 317
Money on Deposit $ 425,980
Interest Accrued 1,623
45,962
427,603
Borrowed Money $ 120,000
Interest Due and Accrued 112
120,112
All Other Liabilities 24,815
$ 618,492
To Shareholders
Paid in Capital 580,500
Balance in Profit and Loss Account — Deficit — 49,845
$ 1,149,147
16
Annual Report —
Registrar of Loan and Trust Corporations
COUNTY SAVINGS AND LOAN CORPORATION (Concl'd)
PROFIT AND LOSS ACCOUNT
Amount Transferred from Revenue Account $ — 39,244
Add:
Organization Costs 10,601
Balance at end of the year — Deficit $ — 49,845
REVENUE ACCOUNT
Income
Interest an Dividends Earned on —
Mortgages and Agreements of Sale $ 38,247
Bonds and Debentures 4,932
Bank Deposits 4,450
$ 47,629
Agency Fees and Commissions Earned 74
$ 47,703
Expenditure
Interest Incurred on:
Debentures $ 2,051
Deposits 6,284
Borrowed Money 40
$ 8,375
Licence Fees and Taxes (Other than Income and Real Estate Taxes) 300
All Other Expenses Incurred:
Advertising $ 2,878
Audit Fees 1,595
Legal Fees 500
Postage, Telegrams, Telephones and Express 1,156
Printing and Stationery 3,208
Rents 4,157
Salaries 23,900
Travelling 1,529
Miscellaneous 39,349
78,272
Total Expenditure Excluding Income Taxes $ 86,947
Net Loss Transferred to Profit and Loss Account * — 39,244
$ 47,703
* Before charging Organization costs $10,601 (Charged to Profit and Loss Account).
MISCELLANEOUS
Every officer or employer is bonded as follows: $200,000 fidelity, theft, forgery and counterfeit;
$25,000 securities; $50,000 fraudulent mortgages.
CONSTATING INSTRUMENTS
Incorporated as a Loan Corporation by issue of Letters Patent dated November 26, 1964,
under The Loan and Trust Corporations Act of Ontario.
Loan Corporations — Detailed Reports
17
CREDIT FONCIER FRANCO-CAN ADIEN
Head Office, Montreal, Que.
Officers
President, E. Monick; Vice-Presidents, B. Lechartier, R. Lavoie; General Manager, B.
Lechartier; Secretary, B. Leclerc; Treasurer, A. Berthiaume.
Directors
P. Bienvenu; A. Chevalier; H. Deroy; L. Mercier-Gouin; B. Lechartier; R. Meunier
du Houssoy; E. Monick; O. Moreau-Neret; H. H. Lank; H. Guerin; R. Labat; M. Faribault.
Auditors
Samson, Belair, Cote, Lacrok and Associates.
Branch Offices
Montreal, Quebec, Toronto, Winnipeg, Regina, Edmonton, Vancouver, Ottawa, Saskatoon,
Calgary.
Commenced Business in Ontario 1881.
Capital Stock
Authorized No. of Shares — 1,272,000. No Par Value.
Shares subscribed and amounts paid in — 851,008 shares $ 10,386,824
BALANCE SHEET AS AT DECEMBER 31, 1965
(At Book Value)
Assets
Office Premises $ 6,036,085
Furniture, Fixtures and Leasehold Improvements 107,534
Real Estate held for Sale 788,768
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $174,084,970
Agreements of Sale 1,384,862
Interest Due and Accrued 1,408,886
176,878,718
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 1,708,077
Interest Due and Accrued 1,254
1,709,331
Bonds and Debentures $ 94,669
Interest Accrued 1,751
96,420
Stocks $ 10,360,387
Dividends Accrued 24,447
10,384,834
Cash on Hand $ 4,625
Cash on Deposit — With Chartered Banks in Canada 708,576
— Elsewhere 87,755
800,956
All Other Assets 9,508,030
Total Assets $206,310,676
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $143,489,573
— Elsewhere 8,916,098
Interest Due and Accrued 967,405
$153,373,076
Borrowed Money $ 5,000,000
Interest Due and Accrued 7,078
5,007,078
Taxes Other than on Real Estate 324,26 1
18 Annual Report — Registrar of Loan and Trust Corporations
CREDIT FONCIER FRANCO-CANADIEN (Cont'd)
Dividends Payable 35,208
Investment Reserves 831,976
All Other Liabilities 7,775,823
$167,347,422
To Shareholders
Paid in Capital 10,386,824
Reserve Fund 24,907,822
Balance in Profit and Loss Account 3,668,608
$206,310,676
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 3,155,574
Add:
Amount Transferred from Revenue Account 2,596,955
$ 5,752,529
Deduct:
Dividends to Shareholders Declared During Year 1,488,886
Transfer to Reserve Fund 500,000
Distribution to Directors 95,035
Balance at End of the Year $ 3,668,608
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 324,536
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 1 1 ,94 1 ,77 1
Collateral Loans 13,616
Bonds and Debentures 4,557
Stocks 614,555
Bank Deposits 18
Other Assets 336,228
12,910,745
Agency Fees and Commissions Earned 96,896
Gross Profit on Sale of Securties and Real Estate 154,047
Other Revenue 603,735
$ 14,089,959
Expenditure
Interest Incurred on:
Debentures $ 7,344,293
Borrowed Money 143,786
$ 7,488,079
Licence Fees and Taxes (Other than Income and
Real Estate Taxes 53,055
Commissions on Sale of Debentures 255,603
Commissions — Other 166,724
All Other Expenses Incurred:
Advertising $ 69,473
Audit Fees 13,600
Directors' Fees 22,995
Furniture and Fixtures 26,493
Legal Fees 17,369
Postage, Telegrams, Telephones and Express 42,784
Printing and Stationery 17,870
Rents 20,297
Salaries 900,474
Travelling 94,902
Loan Corporations — Detailed Reports 19
CREDIT FONCIER FRANCO-CAN ADIEN (Concl'd)
Miscellaneous 460,457
1,686,714
Amounts by which Ledger Values of Assets were Written Down 190,781
Amounts Transferred to Investment Reserves 422,048
Total Expenditure Excluding Income Taxes $ 10,263,004
Provision for Income Taxes 1,230,000
Net Profit Transferred to Profit and Loss Account 2,596,955
$ 14,089,959
MISCELLANEOUS
Dividends and bonuses declared during the year — $ 1 .65 per share.
The Head Office officers and employees of the Company are bonded for $500,000 by a Brokers'
blanket bond. All other employees are covered for $100,000.
CONSTATING INSTRUMENTS
PROVINCE OF QUEBEC:
The Company was incorporated by an Act of the Province of Quebec, being Chapter 60,
43-44 Victoria. This Act was amended by Chapter 84, 45 Victoria; Chapter 62, 47 Victoria;
Chapter 74, 63 Victoria; Chapter 99, 7 Edward VII; Chapter 82, 8 George VI and Chapter 148,
3 Elizabeth II.
The Company was authorized by an Act of the Legislature, and assented to on February 10,
1954, to amend its Charter, as provided by Private Bill No. 167.
By Letters Patent May 3 1, 1963, Quebec, shares can be subdivided two for one.
PROVINCE OF ONTARIO:
By an Act of the Province of Ontario, being Chapter 51, 44 Victoria, the Company was
empowered to establish branch offices, to lend money and to hold real estate in the Province
of Ontario.
By an Act of the Province of Ontario being Chapter 116 of the Statutes of Ontario, 1946,
sections 1 and 2 of the above Act were repealed and the Company was empowered to borrow
in the Province of Ontario by taking deposits or issuing debentures but subject to such
terms and conditions as may be from time to time prescribed by the Lieutenant Governor in
Council; also, section 9 of the above Act was amended limiting the term it may hold real
estate acquired for the protection of its investments or mortgaged in its favour to the time
limited under The Loan and Trust Corporation Act.
Order-in-Council of the Lieutenant-Governor of the Province of Ontario dated January 14,
1965, authorized the construction of a new Office Building at the South-East corner of Bay and
Wellington Streets in Toronto.
By Order-in-Council of the Lieutenant-Governor of the Province of Ontario dated May 13,
1965, the amount which may be borrowed on debentures and other securities and by way of
deposits was increased to a sum not exceeding the aggregate of the cash on hand or deposited in
chartered banks in Canada and of eight times the combined amounts of the unimpaired paid-in
Capital and Reserve Fund.
DOMINION OF CANADA:
By an Act of the Dominion of Canada, being Chapter 58, 44 Victoria, and also Chapter 41
62-63 Victoria, the Company's borrowing powers are defined. These Acts were amended by
Chapter 80, 1 1-12 George V.
By an Act, Chapter 85, 46 Victoria, the powers of the Company were amended to conform
with those of other Loan Companies.
20
Annual Report —
Registrar of Loan and Trust Corporations
THE EASTERN CANADA SAVINGS AND LOAN COMPANY
Head Office, Halifax, N.S.
Officers
President, H. P. Connor; General Manager, F. A. Milne; Secretary, H. M. McInnes.
Directors
H. P. Connor; F. A. Milne; J. C. Mackeen; D. M. Smith; A. G. Cooper; G. D. Standfield;
A. G. Archibald; H. R. Cohen.
Auditors
Peat, Marwick, Mitchell and Co.
Branch Offices
Dartmouth, St, John's, Moncton, Fredericton, Charlottetown.
Commenced Business in Ontario 1949.
Capital Stock
Authorized Amount — $3,000,000 No. of Shares — 3,000,000 Par Value — $1.
Shares subscribed and amounts paid in — 2,000,000 shares $2,000,000
BALANCE SHEET AS AT DECEMBER 31, 1965
(At Book Value)
Office Premises $ 964,000
Furniture, Fixtures and Leasehold Improvements 55,021
Real Estate held for Sale 1 3,576
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 96,477,152
Agreements of Sale 106,743
Interest Due and Accrued 521,872
97,105,767
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 120,690
Interest Due and Accrued 674
121,364
Bonds and Debentures $ 5,598,209
Interest Accrued 71,186
5,669,395
Stocks 929,200
Cash on Hand $ 120,042
Cash on Deposit — 'With Chartered Banks in Canada 503,236
— Elsewhere 306,649
929,927
Agency Funds and Investments 663,973
All Other Assets 16,921
Total Assets $106,469,144
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 80,717,215
Interest Due and Accrued 1,325,144
$ 82,042,359
Money on Deposit '. 15,322,870
Taxes Other than on Real Estate 14,520
Dividends Payable 160,000
Investment Reserves 300,000
Agency Funds and Investments 664,026
All Other Liabilities 939,629
$ 99,443,404
Loan Corporations — Detailed Reports
21
THE EASTERN CANADA SAVINGS AND LOAN COMPANY (Cont'd)
To Shareholders
Paid in Capital 2,000,000
Reserve Fund 4,500,000
Balance in Profit and Loss Account 525,740
$106,469,144
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 307,539
Add:
Amount Transferred from Revenue Account 871,201
Amount Transferred from Mortgage Reserve 1,107,000
$ 2,285,740
Deduct:
Dividends to Shareholders Declared During Year 460,000
Transfer to Reserve Fund 1,300,000
Balance at End of the Year $ 525,740
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 60,083
Interest and Dividends Earned on :
Mortgages and Agreements of Sale $ 6,556,363
Collateral Loans 9,047
Bonds and Debentures 271,490
Stocks 45,344
Bank Deposits 51,790
6,934,034
Agency Fees and Commissions Earned 3,536
Gross Profit on Sale of Securities and Real Estate 2,473
Other Revenue 7,366
$ 7,007,492
Expenditure
Interest Incurred on:
Debentures $ 4,060,320
Deposits 593,552
Borrowed Money 23,150
$ 4,677,022
Licence Fees and Taxes (Other than Income and
Real Estate Taxes) 14,230
Commissions on Sale of Debentures 127,374
Commissions — Other 121,733
All Other Expenses Incurred :
Advertising $ 145,041
Audit Fees 7,997
Directors' Fees 18,900
Furniture and Fixtures 45,205
Legal Fees 3,347
Office Maintenance 4,850
Postage, Telegrams, Telephones and Express 22,331
Printing and Stationery 37,920
Rents 83,356
Salaries 298,333
Travelling 5,367
Miscellaneous 113,066
785,713
Gross Loss on Sale of Securities and Real Estate 5,219
Amounts Transferred to Investment Reserves 50,000
Total Expenditure Excluding Income Taxes $ 5,781,291
Provision for Income Taxes 355,000
Net Profit Transferred to Profit and Loss Account 871,201
$ 7,007,492
22
Annual Report —
Registrar of Loan and Trust Corporations
THE EASTERN CANADA SAVINGS AND LOAN COMPANY (Concl'd)
MISCELLANEOUS
Dividends and bonuses declared during the year — 23c per share.
The officers and employees of the Company are bonded for $100,000 by a blanket bond.
CONSTATING INSTRUMENTS
The Company was incorporated by an Act of Parliament in Canada, in 1887, being Chapter
113, 50-51 Victoria. This Act was amended in 1893 by Chapter 83, 56 Victoria; Chapter 96,
1 Edward VII in 1901; Chapter 137, 4-5 George V in 1914 and Chapter 64, 20-21 George V in
1930.
Registered as a Loan Corporation under The Loan and Trust Corporations Act, July 20, 1949.
By Order-in -Council dated July 28, 1949, the Company was approved as a loan corporation
in the terminable debentures of which trustees may invest.
By Order-in-Council dated July 28, 1949, the amount which may be borrowed by the Company
was increased to a sum not exceeding ten times the aggregate of its permanent capital and reserve
fund.
Loan Corporations — Detailed Reports
23
FEDERAL SAVINGS AND LOAN CORPORATION
Head Office, Toronto, Ont.
Officers
Chairman of the Board, G. E. Halpenny; President, O. Rechtshaffen; Secretary, J. H.
Morlock; Treasurer, J. W. Stewart.
Directors
G. E. Halpenny; G. R. P. Bongard; J. H. Morlock; O. Rechtshaffen; R. N. Seguin;
P. Mackenzie; I. Rechtshaffen.
Auditors
Price, Waterhouse & Co., Toronto.
Commenced Business in Ontario, August, 1964.
Capital Stock
Authorized Amount — $5,000,000. No. of Shares — 500,000. Par Value — $ 10.
Shares subscribed and amounts paid in — 190,000 shares $ 1,450,000
BALANCE SHEET AS AT DECEMBER 31, 1965
(At Book Value)
Furniture, Fixtures and Leasehold Improvements $ 147,277
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages
Second Mortgages
Interest Due and Accrued
3,700,780
Loans Secured by Bonds, Stocks and Other Collateral:
Principal 14,665
Bonds and Debentures
Interest Accrued ...
Stocks
Dividends Accrued
$
3,597,667
74,313
28,800
$
535,702
9,796
$
34,345
402
$
51,163
95,872
545,498
34,747
Cash on Hand
Cash on Deposit — With Chartered Banks in Canada
147,035
All Other Assets 4,321
Total Assets $ 4,594,323
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 510,451
Interest Due and Accrued 2,725
Money on Deposit $ 2,426,282
Interest Accrued 16,404
513,176
2,442,686
Borrowed Money $ 175,000
Interest Due and Accrued 170
175,170
Taxes Other than on Real Estate 1,050
All Other Liabilities 49,414
$ 3,181,496
To Shareholders
Paid in Capital 1,450,000
Balance in Profit and Loss Account — Deficit — 37,173
$ 4,594,323
24
Annual Report — Registrar of Loan and Trust,' Corporations
FEDERAL SAVINGS AND LOAN CORPORATION (Concl'd)
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 126,896
Add:
Amount Transferred from Revenue Account — 188,999
Premium on 27,700 fully paid Shares 24,930
Balance at End of the Year — Deficit $ —37,173
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 223,985
Collateral Loans 499
Bonds and Debentures 8,405
Stocks 642
Bank Deposits 213
$ 233,744
Other Revenue 1,618
$ 235,362
Expenditure
Interest Incurred on:
Debentures $ 8,733
Deposits 33,985
Borrowed Money 37,241
$ 79,959
Licence Fees and Taxes (Other than Income and
Real Estate Taxes) 2,866
Commissions — Other 26,748
All Other Expenses Incurred:
Advertising $ 15,716
Audit Fees 4,750
Directors' Fees 900
Legal Fees 1,506
Office Maintenance 3,753
Postage, Telegrams, Telephones and Express 2,486
Printing and Stationery 23,833
Rents 21,057
Salaries 98,214
Travelling 495
Miscellaneous 142,078
314,788
Total Expenditures Excluding Income Taxes $ 424,361
Net Loss Transferred to Profit and Loss Account —188,999
$ 235,362
MISCELLANEOUS
The officers and employees of the Company are under a banker's blanket bond, with a limit of
$250,000 per branch.
CONSTATING INSTRUMENTS
Incorporated under The Loan and Trust Corporation Act by issue of Letters Patent dated May
28, 1964, and registered as a Loan Corporation July 20, 1964.
Loan Corporations — Detailed Reports
25
FIDELITY MORTGAGE & SAVINGS CORPORATION
Head Office, Hamilton, Ont.
Officers
President and Manager, S. F. Ross; Vice-President, W. V. A. Holton, G. E. Grundy;
Secretary, H. S. Hendrie; Treasurer, F. W. Baillie.
Directors
S. F. Ross; W. V. A. Holton; G. E. Grundy; H. S. Hendrie; F. W. Baillie; W. A.
Campbell; C. R. Chater; J. R. A. Langs; J. H. Luxton; M. Proctor; J. C. Tait.
Auditors
McDonald, Currie & Co., Toronto.
Commenced Business in Ontario November 8, 1963.
Capital Stock
Authorized Amount — $5,000,000 No. of Shares — 500,000 Par Value — $10.
Shares subscribed and amounts paid in — 230,000 shares $1,850,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(At Book Value)
Furniture, Fixtures and Leasehold Improvements $ 95,932
Mortgage Loans on Real Estate and Agreements of Sale:
Firts Mortgages $ 5,576,198
Interest Due and Accrued 22,135
Loans Secured by Bonds, Stocks and Other Collateral:
Principal
Interest Due and Accrued
Bonds and Debentures
Interest Accrued .
$
659,717
330
$
599,557
8,207
$
97,445
524,138
5,598,333
660,047
607,764
Cash on Deposit — With Chartered Banks in Canada
621,583
Agency Funds and Investments 589,229
All Other Assets 6,317
Total Assets $ 8,179,205
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 1,663,413
Interest Due and Accrued 26,084
$ 1,689,497
Money on Deposit $ 3,911,741
Interest Accrued 21,241
3,932,982
Taxes Other than on Real Estate 1,538
Investment Reserves 23,750
General Contingency Reserve 50,000
Agency Fund 589,229
All Other Liabilities 15,716
$ 6,302,712
26
Annual Report —
Registrar of Loan and Trust Corporations
FIDELITY MORTGAGE & SAVINGS CORPORATION (Cont'd)
To Shareholders
Paid in Capital 1,850,000
Balance in Profit and Loss Account 26,493
$ 8,179,205
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 103,173
Add:
Amount Transferred from Revenue Account — 76,680
Balance at End of the Year $ 26,493
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 372,792
Collateral Loans 5,974
Bonds and Debentures 21,114
Bank Deposits 227
400,107
Agency Fees and Commissions Earned 624
Gross Profit on Sale of Securities and Real Estate 661
Other Revenue 6,755
408,147
Expenditure
Interest Incurred on:
Debentures $ 55,682
Deposits 99,641
Borrowed Money 27,218
$ 182,541
Licence Fees and Taxes (Other than Income and
Real Estate Taxes) 2,473
Commissions on Sale of Debentures 2,908
Commissions — Other 28,367
All Other Expenses Incurred:
Advertising $ 41,958
Audit Fees 2,500
Legal Fees 1,819
Office Maintenance 2,919
Postage, Telegrams, Telephone and Express 4,926
Printing and Stationery 10,214
Rents 14,067
Salaries 101,998
Travelling 8,852
Miscellaneous 57,230
246,483
Amounts by which Ledger Values of Assets were Written Down ^' 8 ^n
Amounts Transferred to Investment Reserves 13,750
Total Expenditure Excluding Income Taxes $ 483,344
Provision for Income Taxes 1'15a
Net Loss Transferred to Profit and Loss Account — 76,680
$ 408,147
Loan Corporations — Detailed Reports
27
FIDELITY MORTGAGE & SAVINGS CORPORATION (Concl'd)
MISCELLANEOUS
The employees of the Company are bonded for $50,000 each by a Brokers' Blanket Bond.
CONSTATING INSTRUMENTS
Incorporated by Special Act of the Parliament of Canada, July 22, 1963.
Order-in-Council, September 2, 1965, increased borrowing powers to 10 times capital and
reserves plus cash.
28
Annual Report — Registrar of Loan and Trust Corporations
GENERAL MORTGAGE SERVICE CORPORATION OF CANADA
Head Office, Toronto, On*.
Officers
President, J. L. Whitney; Vice-Presidents, J. C. Vanstone, L. Henderson; Secretary, L.
Henderson; Treasurer, J. C. Vanstone.
Directors
C. P. McTague; J. L. Whitney; J. C. Vanstone; C. J. Whitney; L. Henderson; W. H.
Horsey; L. P. Gelinas; F. M. Covert; J. H. Norris; J. S. Land; G. M. Wilson.
Auditors
Thorne, Mulholland, Howson & McPherson.
Commenced Business in Ontario March 23, 1962.
Capital Stock
Authorized Amount— $10,000,000 No. of Shares — 1,000,000. Par Values — $10.
Shares subscribed and amounts paid in — 310,160 shares $1,131,984
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(At Book Value)
Furniture, Fixtures and Leasehold Improvements $ 7,783
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 8,281,416
Agreements of Sale 3,500
Interest Due and Accrued 77,760
8,362,676
Cash on Hand $ 25
Cash on Deposit — With Chartered Banks in Canada 277,755
■ 277,780
All Other Assets 28,327
Total Assets $ 8,676,566
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 1,709,300
Interest Due and Accrued 26,884
$ 1,736,184
$ 5,430,000
14,060
5,444,060
Taxes Other than on Real Estate 24,407
Dividends Payable 11,320
Investment Reserves 67,171
All Other Liabilities 71,301
$ 7,354,443
To Shareholders
Paid in Capital 1,131,984
Reserve Fund 100,000
Balance in Profit and Loss Account 90,139
Borrowed Money
Interest Due and Accrued
$ 8,676,566
Loan Corporations — Detailed Reports
29
GENERAL MORTGAGE SERVICE CORPORATION OF CANADA (Concl'd)
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 58,029
Add:
Amount Transferred from Revenue Account 106,389
$ 164,418
Deduct:
Dividends to Shareholders Declared During Year 45,279
Transfer to Reserve Fund 29,000
Balance at End of the Year $ 90,139
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 644,053
Other Revenue 40,140
$ 684,193
Expenditure
Interest Incurred on:
Debentures $ 382,365
Licence Fees and Taxes (Other than Income and
Real Estate Taxes) 1,430
Commissions on Sale of Debentures 14,21 1
All Other Expenses Incurred:
Advertising $ 4,000
Audit Fees 2,105
Directors' Fees 1,600
Legal Fees 5
Postage, Telegrams, Telephones and Express 1,728
Printing and Stationery 1,304
Rents 2,845
Salaries 84,780
Travelling 3,161
Miscellaneous 11,817
113,345
Amounts by which Ledger Values of Assets were Written Down 4,453
Total Expenditure Excluding Income Taxes $ 515,804
Provision for Income Taxes 62,000
Net Profit Transferred to Profit and Loss Account 106,389
$ 684,193
MISCELLANEOUS
Dividends and Bonuses declared during the year — 4% .
The officers and employees of the Company are bonded for $50,000 by a Blanket Bond.
CONSTATING INSTRUMENTS
The Company was incorporated under Special Act of the Parliament of Canada being
Chapter 78, 9-10 Elizabeth II, Statutes of Canada, assented to July 13, 1961, and became registered
as a Loan Company under The Loan and Trust Corporations Act, March 22, 1962.
30
Annual Report
— Registrar of Loan and Trust Corporations
GREYMAC MORTGAGE CORPORATION
Head Office, Hamilton, Ont.
Officers
President, E. D. Hickey; Vice-President, W. E. Green; Manager, P. Bradshaw; Secretary,
C. D. McCallum.
Directors
E. D. Hickey; W. E. Green; C. D. McCallum; H. R. Cuzner; R. K. Fraser.
Auditors
Clarkson, Gordon & Co.
Commenced Business in Ontario March 13, 1963.
Capital Stock
Authorized Amount — $1,000,000. N. of Shares — 10,000. Par Value — $100.
Amount subscribed and paid in — 5,300 shares $206,000
BALANCE SHEET AS AT DECEMBER 31, 1965
(at Book Value)
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 680,865
Interest Due and Accrued 7,791
$ 688,656
Cash on Hand $ 15
Cash on Deposit — With Chartered Banks in Canada 4,776
4,791
Agency Funds and Investments 2,113,857
Total Assets $ 2,807,304
Liabilities
To the Public
Borrowed Money $ 435,000
Interest Due and Accrued 644
$ 435,644
Taxes Other than on Real Estate 151
Agency Funds 2,113,857
All Other Liabilities 40,446
$ 2,590,098
To Shareholders
Paid in Capital 206,000
Balance in Profit and Loss Account 1 1,206
$ 2,807,304
Loan Corporations — Detailed Reports
31
GREYMAC MORTGAGE CORPORATION (Concl'd)
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 12,626
Deduct:
Amount Transferred from Revenue Account — 1,420
Balance at End of the Year $ 11,206
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 51,958
Agency Fees and Commissions Earned 11,541
$ 63,499
Expenditure
Interest Incurred on:
Deposits $ 5,000
Borrowed Money 32,707
$ 37,707
Licence Fees and Taxes (Other than Income and
Real Estate Taxes) 612
Commissions — Other 1,635
All Other Expenses Incurred:
Audit Fees $ 1,054
Postage, Telegrams, Telephones and Express 365
Printing and Stationery 266
Rents 2,529
Salaries 4,680
Miscellaneous 736
9,630
Gross Loss on Sale of Securities and Real Estate 15,785
Total Expenditure Excluding Income Taxes $ 65,369
Provision for Income Taxes (Recoverable) — 450
Net Loss Transferred to Profit and Loss Account — 1,420
$ 63,499
CONSTATING INSTRUMENTS
Incorporated by Special Act under the laws of Canada, April 18, 1962. Registered as a Loan
Corporation, Ontario, March 13th, 1963.
32
Annual Report —
Registrar of Loan and Trust Corporations
THE HURON AND ERIE MORTGAGE CORPORATION
Head Office, London, Ont.
Officers
President and General Manager, J. A. Taylor; Secretary, R. A. Knighton; Treasurer, E. D. L.
Miller.
Directors
V. P. Cronyn; J. A. Taylor; T. Lawson; R. P. Baker; H. Borden; H. H. Leather; L
Leonard; M. Meighen; A. C. Spencer; J. Jeffery; R. H. Reid; A. E. Barron; A. H. Mingay;
J. D. Wilson.
Auditors
Thorne, Mulholland, Howson & McPherson, Chartered Accountants.
Branch Offices
London, St. Thomas, Regina, Winnipeg, Edmonton, Windsor, Toronto, Chatham, Victoria,
Hamilton, Vancouver, Montreal, Guelph, St. Catharines, Calgary, New Westminster, Sarnia, Red
Deer. Kitchener, Lethbridge, Medicine Hat, Saskatoon, Barrie, Ottawa, Halifax, Kingston, Port
Colborne, Brandon, Nanaimo, Moose Jaw, Prince George, Stratford.
Commenced Business in Ontario 1864.
Capital Stock
Authorized Amount — $10,000,000. No. of Shares — 5,000,000. Par Value — $2.
Shares subscribed and amounts paid in — 4,000,000 shares $8,000,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Office Premises $ 6,812,260
Furniture, Fixtures and Leasehold Improvements 1,154,515
Real Estate held for Sale 111,691
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $287,320,886
Interest Due and Accrued 3,834,138
291,155,024
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 6,743,582
Interest Due and Accrued 58,550
6,802,132
Bonds and Debentures $ 50,890,646
Interest Accrued 469,119
51,359,765
Stocks 13,777,451
Cash on Hand $ 2,077,035
Cash on Deposit — With Chartered Banks in Canada 3,272,271
— Elsewhere 33,091
5,382,397
Total Assets $376,555,235
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $184,287,849
Interest Due and Accrued 4,817,518
$189,105,367
Money on Deposit $158,422,069
Interest Accrued 898,703
159,320,772
Taxes Other than on Real Estate 425,000
Dividends Payable 400,000
All Other Liabilities 250,000
$349,501,139
Loan Corporations — Detailed Reports
33
THE HURON AND ERIE MORTGAGE CORPORATION (Cont'd)
To Shareholders
Paid in Capital 8,000,000
Reserve Fund 18,850,000
Balance in Profit and Loss Account 204,096
$376,555,235
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 78,484
Add:
Amount Transferred from Revenue Account 1,968,031
Premium on Capital Stock sold during year 3,200,000
$ 5,246,515
Deduct:
Dividends to Shareholders Declared During Year 1,328,000
Transfer to Reserve Fund 3,714,419
Balance at End of the Year $ 204,096
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 424,727
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 19,429,999
Collateral Loans 59,770
Bonds and Debentures 2,525,982
Stocks 665,171
Bank Deposits 37,571
22,718,493
Agency Fees and Commissions Earned 67,843
Gross Profit on Sale of Securities and Real Estate 74,994
Other Revenue 526,985
$ 23,813,042
Expenditure
Interest Incurred on:
Debentures
Deposits
Borrowed Money
License Fees and Taxes (Other than Income and
Real Estate Taxes)
Commissions on Sale of Debentures
Commissions — Other
All Other Expenses Incurred :
Advertising
Audit Fees
Directors' Fees
Furniture and Fixtures
Legal Fees
Postage, Telegrams, Telephones and Express
Printing and Stationery
Rents
Salaries
Travelling
Miscellaneous
8,956,382
4,881,022
7,277
$ 13,844,681
59,812
119,871
525,204
241,955
35,266
35,737
18,371
7,849
112,991
152,815
743,377
2,106,705
62,548
954,931
4,472,545
34
Annual Report — Registrar of Loan and Trust Corporations
THE HURON AND ERIE MORTGAGE CORPORATION (Cont'd)
Gross Loss on Sale of Securities and Real Estate 15,723
Amounts Transferred to Investment Reserves 1,470,848
Total Expenditure Excluding Income Taxes $ 20,508,684
Provision for Income Taxes 1,336,327
Net Profit Transferred to Profit and Loss Account 1,968,03 1
$ 23,813,042
MISCELLANEOUS
Dividends and bonuses declared during the year — $1.20 per $10 shares, 10c. per $2.00 shares.
The officers and employees of the Company are bonded for $3,000,000 under a blanket bond.
CONSTATING INSTRUMENTS
March 15, 1864: Declaration made and filed (March 18, 1864) in pursuance of chapter 53,
Consolidated Statutes of Upper Canada, 1859, incorporating The Huron & Erie Savings & Loan
Society under the said Act.
1865, 28 Victoria, chapter 41: an Act of the Legislative Council and Assembly of Canada
whereby the London Permanent Building & Savings Society was amalgamated with and merged
in The Huron & Erie Savings & Loan Society.
1866, 29-30 Victoria, chapter 132: an Act of the Legislative Council and Assembly of Canada
whereby the Western Counties Permanent Building & Savings Society was amalgamated with
and merged in The Huron & Erie Savings & Loan Society.
1875, 39 Victoria, chapter 95: an Act changing the name of The Huron & Erie Savings &
Loan Society to The Huron & Erie Loan & Savings Company.
1875, September 2: Declaration filed in pursuance of chapter 53, Consolidated Statutes of
Canada, 1859, whereby the Canadian Savings & Loan Company of London, Canada, was in-
corporated under the said Act.
1896, 59 Victoria, chapter 49, Canada: an Act for defining the borrowing powers of the
Company and for consolidating legislation in relation thereto.
1899, 62-63 Victoria, chapter 115, Canada: an Act regulating the amount of the Company's
liabilities to the public and as to the types of security in which it may invest.
1905, 4-5 Edward VII, chapter 105, Canada: an Act dealing with the Company's liabilities
to the public, limiting the amount from time to time to be held on deposit, and as to the extent
of borrowing power.
1905, December 29: an Order of the Lieutenant-Governor in Council, assenting to an agree-
ment whereby the assets of The Canadian Savings & Loan Company were vested in The Huron
& Erie Loan & Savings Company.
1906, 6 Edward VII, chapter 110, Canada: an Act whereby The Canadian Savings & Loan
Company of London, Canada, was amalgamated with and merged in The Huron & Erie Loan
and Savings Company.
1906, 6 Edward VII, chapter 130, Ontario: an Act of the Province of Ontario similar to the
one above described and for the same purpose.
1913, 3-4 Geo. V, chapter 130, Canada: an Act permitting the Company to increase the
amount of its liabilities to the public.
1915, 5 Geo. V, chapter 74, Canada: an Act changing the name of The Huron & Erie Loan
& Savings Company to The Huron & Erie Mortgage Corporation, authorizing the increase of the
Company's capital stock, the establishment of a pension fund, etc.
1915, 5 Geo. V, chapter 86, Ontario: An Act for the same purpose as the Dominion Act last
above recited.
1922, August 29: an Order of the Lieutenant-Governor of the Province of Ontario in Council,
assenting to an agreement whereby the assets of the Dominion Savings & Investment Society were
vested in The Huron & Erie Mortgage Corporation.
1926, October 13: an Order of the Lieutenant-Governor of the Province of Ontario in Council
assenting to an agreement whereby the assets of The Hamilton Provident & Loan Corporation
were vested in The Huron & Erie Mortgage Corporation.
1927, May 31: an Order of the Lieutenant-Governor of the Province of Ontario in Council,
assenting to an agreement whereby the assets of The Southern Loan & Savings Company were
vested in The Huron & Erie Mortgage Corporation.
Loan Corporations — Detailed Reports
35
THE HURON AND ERIE MORTGAGE CORPORATION (Concl'd)
1929, August 29: an Order of the Lieutenant-Governor of the Province of Ontario in Council,
assenting to an agreement respecting the sale of the assets of The London Loan & Savings Com-
pany to The Huron & Erie Mortgage Corporation.
1931, January 17: an Order of the Lieutenant-Governor of the Province of Ontario in Council,
assenting to an agreement, dated November 18, 1930, whereby the assets of The People's Loan
& Savings Corporation were invested in The Huron & Erie Savings Corporation.
1949, December 1 : an Order of the Lieutenant-Governor of the Province of Ontario in Council,
assenting to an agreement, dated October 12, 1949, whereby the assets of The Guelph and
Ontario Investment and Savings Society were vested in The Huron and Erie Mortgage Corporation.
1959, May 7: By Order-in-Council (P.C. 1959—2/557) of the Government of Canada the
Company's borrowing powers were increased to the aggregate of its cash and twelve and one-half
times the combined amounts of its paid-in capital and reserve fund.
1961, March 29: an Order-in-Council of the Lieutenant-Governor of the Province of Ontario
in Council assenting to subdivision of the Company's 500,000 shares of a par value of $20 each
into 1,000,000 shares of a par value of $ 10 each.
1965, September 2: an Order-in-Council of the Lieutenant-Governor of the Province of
Ontario in Council assenting to subdivision of the Company's 1,000,000 shares of a par value
of $10 each into 5,000,000 shares of a par value of $2 each.
36
Annual Report
— Registrar of Loan and Trust Corporations
KINROSS MORTGAGE CORPORATION
Head Office, Toronto, Ont.
Officers
President, D. B. Mansur; Asst. Manager, W. A. Oxley; Secretary, J. A. Emery; Treasurer,
H. S. Mason.
Directors
W. M. Currie; P. P. Daigle; J. G. Glassco; A. Graydon; J. G. Hungerford; M. C. C.
Ross; D. G. Guest; H. W. Thomson; D. B. Mansur.
Auditors
Peat, Marwick, Mitchell & Co., Toronto.
Commenced Business in Ontario, November 26, 1963.
Capital Stock
Authorized Amount— $10,000,000. No. of Shares— 100,000. Par Value— $100.
Shares subscribed and amounts paid in— 100,000 shares $ 10,000,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(At Book Value)
Furniture, Fixtures and Leasehold Improvements $ 10,964
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 70,747,371
Interest Due and Accrued 407,137
71,154,508
Bonds and Debentures $ 1,238,724
Interest Accrued 6,628
1,245,352
Cash on Deposit — With Chartered Banks in Canada 20,453,939
All Other Assets 34,687
Total Assets $ 92,899,450
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 15,000,000
Interest Due and Accrued 421,872
$ 15,421,872
Money on Deposit $ 12,606,000
Interest Accrued 65,889
12,671,889
Borrowed Money $ 53,850,000
Interest Due and Accrued 108,740
53,958,740
Taxes Other than on Real Estate 160,072
Investment Reserves 380,868
All Other Liabilities 103,450
$ 82,696,891
To Shareholders
Paid in Capital 10,000,000
Balance in Profit and Loss Account 202,559
$ 92,899,450
Loan Corporations — Detailed Reports 37
KINROSS MORTGAGE CORPORATION (Concl'd)
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 86,983
Add:
Amount Transferred from Revenue Account 186,916
$ 273,899
Deduct:
Dividends to Shareholders Declared During Year 60,000
Incorporation expenses 11,340
Balance at end of the Year $ 202,559
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 4,147,274
Bonds and Debentures 64,428
Bank Deposits 1,181,147
Other Assets 8,008
$ 5,400,857
Agency Fees and Commissions Earned 25,000
$ 5,425,857
Expenditure
Interest Incurred on:
Debentures $ 844,466
Borrowed Money 3,221,080
$ 4,065,546
Licence Fees and Taxes (Other than Income
and Real Estate Taxes) 9,354
Commissions — Other 300,912
All Other Expenses Incurred:
Advertising $ 1,456
Audit Fees 3,515
Legal Fees 5,702
Postage, Telegrams, Telephones and Express 3,032
Printing and Stationery 3,105
Rents 8,840
Salaries 107,564
Travelling 2,081
Miscellaneous 262,408
397,703
Amounts Transferred to Investment Reserves 281,426
Total Expenditure Excluding Income Taxes $ 5,054,941
Provision for Income Taxes 184,000
Net Profit Transferred to Profit and Loss Account 186,916
$ 5,425,857
MISCELLANEOUS
Dividends and Bonuses declared during the year — 60c. per share.
The officers and employees of the Company are bonded for $3,000,000 in excess of $25,000 by a
blanket fidelity insurance policy held by Canadian Imperial Bank of Commerce.
CONSTATING INSTRUMENTS
This Company was incorporated by a Special Act of Canada July 31, 1963 and registered
as a Loan Corporation — Ontario, November 26, 1963.
1964, June 18: By Order-in-Council (O.C. 1870/64) of the Province of Ontario the
Company's borrowing powers were increased to a sum not exceeding its cash on hand or deposited
in chartered banks in Canada and ten times the aggregate amount of the then actually paid in and
unimpaired permanent capital and reserve fund.
38
Annual Report —
Registrar of Loan and Trust Corporations
THE LAMBTON LOAN AND INVESTMENT COMPANY
Head Office, Sarnia, Ont.
Officers
President, J. A. Smith; Vice-President, D. P. Jamieson; General Manager, E. A. Pardee;
Secretary /Treasurer, J. D. Murray.
Directors
J. A. Smith; D. P. Jamieson; J. E. Coyne; B. A. Logan; C. E. Janes; W. G. Link; P. B.
MacDonald; S. M. Stevens; D. R. Warren; W. J. Miller; G. H. Wilson; F. A. Ouellette.
Auditors
E. A. Jarrett, F.C.A., and D. C. Stewart, F.C.A.
Branch Offices
Wallaceburg, Chatham.
Commenced Business in Ontario 1844.
Capital Stock
Authorized Amount— $1,000,000. No. of Shares— 500,000. Par Value— $2.
Shares subscribed and amounts paid in — 394,875 shares $ 789,750
BALANCE SHEET AS AT DECEMBER 31, 1965
(At Book Value)
Office Premises $ 325,294
Furniture, Fittings and Leasehold Improvements 40,822
Mortgage Loans on Real Estate and Agreements of Sale :
Agreements of Sale
Interest Due and Accrued
Loans Secured by Bonds, Stocks and Other Collateral:
Principal
Interest Due and Accrued
Bonds and Debentures
Interest Accrued
Stocks
Dividends Accrued
$
16,824,080
25,267
193,936
$
283,558
3,121
$
2,544,609
35,708
$
1,053,497
26,901
$
81.875
270,328
17,043,283
286,679
2,580,317
1,080,398
Cash on Hand
Cash on Deposit — With Chartered Banks in Canada
352,203
All Other Assets 31,874
Total Assets $ 21,740,870
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 13,642,273
Interest Due and Accrued 203,753
$ 13,846,026
Money on Deposit $ 5,193,942
Interest Accrued 35,400
5,229,342
Borrowed Money 600,000
Dividends Payable 3 1,590
All Other Liabilities 31,826
$ 19,738,784
Loan Corporations — Detailed Reports
39
THE LAMBTON LOAN AND INVESTMENT COMPANY (Cont'd)
To Shareholders
Paid in Capital 789,750
Reserve Fund 1,000,000
Balance in Profit and Loss Account 212,336
$ 21,740,870
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 149,866
Add:
Amount Transferred from Revenue Account 188,830
$ 338,696
Deduct:
Dividends to Shareholders Declared During Year 126,360
Balance at end of the Year $ 212,336
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 13,677
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 1,241,327
Collateral Loans 12,754
Bonds and Debentures 118,857
Stocks 65,187
Other Assets 9,697
1,447,822
Other Revenue 2,934
$ 1,464,433
Expenditure
Interest Incurred on:
Debentures $ 648,642
Deposits 130,068
Borrowed Money 120,344
$ 899,054
Licence Fees and Taxes (Other than Income and
Real Estate Taxes) 465
Commissions on Sale of Debentures 15,5 14
All Other Expenses Incurred:
Advertising $ 51,657
Audit Fees 5,400
Directors' Fees 9,725
Legal Fees 901
Office Maintenance 23,591
Postage, Telegrams, Telephones and Express 9,747
Printing and Stationery 19,633
Rents 8,475
Salaries 112,122
Travelling 4,129
Miscellaneous 72,377
317,757
Gross Loss on Sales of Securities and Real Estate 2,013
Total Expenditure Excluding Income Taxes $ 1,234,803
Provision for Income Taxes 40,800
Net Profit Transferred to Profit and Loss Account 188,830
$ 1,464,433
40
Annual Report — Registrar of Loan and Trust, Corporations
THE LAMBTON LOAN AND INVESTMENT COMPANY (Concl'd)
MISCELLANEOUS
Dividends and bonuses declared during the year — 32c. per share.
The officers and employees of the Company are bonded for $500,000 by a broker's blanket bond.
CONSTATING INSTRUMENTS
The Company was incorporated under The Building Societies Act, 9 Victoria, Chapter 90
(Province of Ontario), as the Port Sarnia Building Society, by declaration filed on March 27,
1847, with the Clerk of the Peace for the Western district.
The Society was reorganized as the Lambton Permanent Building and Investment Society
by declaration June 19, 1855, with the Clerk of the Peace for the County of Lambton.
By Order-in-Council dated June 4, 1880, the latter corporate name was changed to The
Lambton Loan and Investment Company.
Lending and borrowing powers are governed by The Loan and Trust Corporations Act,
Chapter 223, R.S.O. 1927.
By Order-in-Council dated May 23, 1941, investment of $300,000.00 in the Capital Stock of
The Lambton Trust Company Limited was approved.
By Order-in-Council dated April 24, 1958, amount borrowed by way of debentures and
deposits was increased to a sum not exceeding the aggregate of the amount of its cash in hand and
in bank and of six times the combined amounts of its unimpaired paid-in capital and reserve.
By Order-in-Council dated September 10, 1959, confirming By-law "A", the Company sub-
divided each of its $50.00 par value shares into 5 shares, having a par value of $10.00 each.
By Order-in-Council dated July 5, 1962, amount borrowed by way of debentures and deposits
was increased to a sum not exceeding the aggregate of the amount of its cash in hand and in bank
and of eight times the combined amounts of its unimpaired paid-in capital and reserve.
By Order-in-Council dated July 5, 1962, amounts which may be received on deposit were
increased to a sum not exceeding the aggregate of its cash and four times the combined amounts
of its unimpaired paid-in capital and reserve.
By Order-in-Council dated August 16, 1963, confirming By-Law "DD," the Company divided
each of its $10 par value shares into 5 shares having a par value of $2.
By Order-in-Council dated December 3, 1964, amounts which may be borrowed by way of
debentures and deposits was increased to a sum not exceeding the aggregate of its cash on hand
and in chartered banks in Canada and ten times the combined amounts of its unimpaired paid-in
capital and reserve fund.
Loan Corporations — Detailed Reports
41
LANDMARK SAVINGS AND LOAN ASSOCIATION
Head Office, Toronto, Ont.
Officers
President, A. Briggs; Vice-President, J. M. Best; General Manager, C. N. Wilson; Secretary,
C. R. Connolly; Treasurer, C. A. Way.
Directors
A. Briggs; J. M. Best; C. R. Connolly; C. A. Way; L. W. Mitchell.
Auditors
Welch, Petrie, Hall & Burnside, Toronto.
Commenced Business in Ontario 1965.
Capital Stock
Authorized Amount— $10,000,000. No. of Shares— 400,000. Par Value— $25
Shares subscribed and amounts paid in — 50,000 shares $625,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(At Book Value)
Furniture, Fixtures and Leasehold Improvements $ 109
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 1,877,728
Interest Due and Accrued 10,723
1,888,451
Stocks 140
Cash on Deposit — Witth Chartered Banks in Canada $ 1,000
— Elsewhere 62,199
63,199
All Other Assets 1,310
Total Assets $ 1,953,209
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 678,900
Interest Due and Accrued 7,069
$ 685,969
. Taxes Other than on Real Estate 8,325
All Other Liabilities 622,359
$ 1,316,653
To Shareholders
Paid in Capital $ 625,000
Balance in Profit and Loss Account 11,556
$ 1,953,209
PROFIT AND LOSS ACCOUNT
Amount Transferred from Revenue Account $ 36,556
Deduct:
Dividends to Shareholders Declared During Year $ 25,000
Balance at end of the Year $ 11,556
42
Annual Report —
Registrar of Loan and Trust \ Corporations
LANDMARK SAVINGS AND LOAN ASSOCIATION (Concl'd)
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 93,593
Stocks 6
$ 93,599
Other Revenue 142
Total Expenditure Excluding Income Taxes
Provision for Income Taxes
Net Profit Transferred to Profit and Loss Account
MISCELLANEOUS
Dividends and bonuses declared during the year — 50c. per share.
All employees and J. M. Best are covered by blanket fidelity bond for $100,000.
93,741
Expenditure
Interest Incurred on:
Debentures $ 15,716
Borrowed Money 22,769
$ 38,485
Licence Fees and Taxes (Other than Income and
Real Estate Taxes) 358
All other Expenses Incurred:
Advertising $ 2,237
Audit Fees 350
Furniture and Fixtures 27
Legal Fees 195
Printing and Stationery 1,207
Rents 900
Salaries 5,100
10,016
$
48,859
8,326
36,556
$
93,741
CONSTATING INSTRUMENTS
Incorporated under The Loan and Trust Corporations Act of Ontario by issue of Letters
Patent dated Oct. 1, 1964, registered as a Loan Corporation, January 11, 1965.
Loan Corporations — Detailed Reports
43
MONTREAL TRUST MORTGAGE CORPORATION
Head Office, Montreal, Que.
Officers
President, D. E. Kerlin; Secretary, M. C. Holt; Treasurer, G. A. Goad.
Directors
D. E. Kerlin; S. A. Cobbett; M. C. Holt; G. A. Goad; O. B. Thornton.
Auditors
Touche Ross Bailey & Smart; Price Waterhouse & Company.
Commenced Business in Ontario, November 28, 1963.
Head Office, Montreal, Que.
Officers
President, D. E. Kerlin; Secretary, M. C. Holt; Treasurer, G. A. Goad.
Directors
D. E. Kerlin; S. A. Cobbett; M. C. Holt; G. A. Goad; O. B. Thornton.
Auditors
Touche Ross Bailey & Smart; Price Waterhouse & Company.
Commenced Business in Ontario, November 28, 1963.
Capital Stock
Authorized Amount— $6,000,000. No. of Shares— 60,000. Par Value— $100.
Shares subscribed and amounts paid in — 11,000 shares $1,100,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Cash on Deposit — With Chartered Banks in Canada $ 915
—Elsewhere 2,662,325 $ 2,663,240
All Other Assets 980
Total Assets $ 2,664,220
Liabilities
To the Public
Taxes Other than on Real Estate $ 13,306
$ 13,306
To Shareholders
Paid in Capital 1 , 1 00,000
Reserve Fund 825,000
Balance in Profit and Loss Account 725,9 14
$ 2,664,220
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 689,657
Add:
Amount Transferred from Revenue Account 36,257
Balance at End of The Year $ 725,914
44
Annual Report
— Registrar of Loan and Trust Corporations
MONTREAL TRUST MORTGAGE CORPORATION (Concl'd)
REVENUE ACCOUNT
Income
Interest and Dividends earned on Miscellaneous Assets $ 78,600
$ 78,600
Expenditure
Licence Fees and Taxes (Other than Income and Real Estate Taxes) $ 3,065
Total Expenditure excluding Income Taxes $ 3,065
Provision for Income Taxes 39,278
Net Profit Transferred to Profit and Loss Account 36,257
$ 78,600
MISCELLANEOUS
The officers and employees of the Company are bonded for $20,000,000 by a Brokers' Blanket bond.
CONSTATING INSTRUMENTS
Incorporated as a Loan Corporation under Quebec Companies Act, December 21, 1962.
Loan Corporations — Detailed Reports
45
MUTTART MORTGAGE CORPORATION
Head Office, Toronto, Ont.
Officers
President, H. W. Purchase; Vice-President, F. A. Wandsbrough; Secretary, G. G. Bryce;
Treasurer, J. D. Hepburn.
Directors
J. D. Hepburn; F. A. Wandsbrough; M. K. Longbottom; J. R. McKarty; W. C. White-
side; R. M. Hazleton; H. W. Purchase; G. G. Bryce.
Auditors
Glendinning, Campbell, Jarrett & Dever.
Branch Office
Edmonton.
Commenced Business as a Loan Company in Ontario, March 1, 1962.
Capital Stock
Authorized Amount— $2,000,000. No. of Shares— 200,000. Par Value— $10.
Shares subscribed and amounts paid in — 185,550 shares $1,855,500
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Cash on Deposit — With Chartered Banks in Canada $ 1 2,044
All Other Assets — Due from Canada Permanent Trust Company 3,354,800
Total Assets $ 3,366,844
Liabilities
To the Public
Borrowed Money $ 802,000
Interest Due and Accrued 1,794
$ 803,794
Taxes Other than on Real Estate 50,960
All Other Liabilities 1 4, 648
$ 869,402
To Shareholders
Paid in Capital 1,855,500
Balance in Profit and Loss Account 64 1 ,942
$ 3,366,844
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 488,109
Add:
Amount Transferred from Revenue Account 112,750
Amount Transferred from Mortgage Reserve 41.083
Balance at End of the Year $ 641 .942
46
Annual Report
— Registrar of Loan and Trust Corporations
MUTTART MORTGAGE CORPORATION (Concl'd)
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 642,262
Bonds and Debentures 5,271
Stocks 3,143
$ 650,676
Other Revenue 205,277
$ 855,953
Expenditure
Interest Incurred on:
Debentures $ 257,643
Deposits 2,393
Borrowed Money 89,141
$ 349,177
Licence Fees and Taxes (Other than Income and Real Estate Taxes) 3,649
All Other Expenses Incurred:
Advertising $ 61
Audit Fees 2,000
Directors' Fees 6,750
Legal Fees 54,356
Postage, Telegrams, Telephones and Express 3,869
Printing and Stationery 2, 8 5 1
Rents 9,356
Salaries 51,278
Travelling 8,517
Miscellaneous 38,887
$ 177,925
Gross Loss on Sale of Securities and Real Estate 63,452
Total Expenditure excluding Income Taxes $ 594,203
Provision for Income Taxes 149,000
Net Profit Transferred to Profit and Loss Account 112,750
$ 855,953
MISCELLANEOUS
All employees are covered to $5,000 by a blanket policy.
CONSTATING INSTRUMENTS
Incorporated August 21, 1958 by Letters Patent under The Companies Act as Muttart
Development Corporation Ltd., converted to a Loan Company on March 1, 1962 by a Special
Act of the Parliament of Canada under the name Muttart Mortgage Corporation.
Loan Corporations — Detailed Reports
47
NIPISSING MORTGAGE COMPANY
Head Office, North Bay, Oat.
Officers
President, M. E. Dickerson; General Manager, D. L Merkur; Secretary, A. Merkur.
Directors
M. E. Dickerson; A. A. Campbell; A. Merkur; D. I. Merkur; E. N. Merkur; S. B.
Goldberg; M. Merkur; D. A. Hollows; M. K. Hollows.
Auditors
J. E. Beckett, North Bay, Ontario.
Branch Office
Toronto.
Commenced Business in Ontario November 9, 1961.
Capital Stock
Authorized Amount— $4,000,000. No. of Shares — 400,000. Par Value— $10.
Shares subscribed and amounts paid in — 65,420 shares $654,200
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Real Estate Held for Sale $ 9,75 1
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 770,986
Interest Due and Accrued 4,246
775,232
All Other Assets 620
Total Assets $ 785,603
Liabilities
To the Public
Borrowed Money $ 83,528
Taxes Other than on Real Estate 4,324
All Other Liabilities 2,803
$ 90,655
To Shareholders
Paid in Capital 654.200
Balance in Profit and Loss Account 40,748
$ 785.603
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 3 6,786
Add:
Amount Transferred from Revenue Account 3 3,40 1
$ 70.187
Deduct:
Dividends to Shareholders Declared During Year 29,439
Balance at End of the Year $ 40.748
48
Annual Report — Registrar of Loan and Trust Corporations
NIPPISSING MORTGAGE COMPANY (Concl'd)
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 51,418
Other Assets 1,745
$ 53,163
Other Revenue 1,545
$ 54,708
Expenditure
Interest Incurred on:
Borrowed Money $ 1,143
Licence Fees and Taxes (Other than Income and Real Estate Taxes) 260
Commissions — Other 2,010
All Other Expenses Incurred:
Advertising $ 55
Audit Fees 750
Directors' Fees 400
Legal Fees 85
Printing and Stationery 65
Rents 900
Salaries 600
$ 2,855
Total Expenditure excluding Income Taxes $ 6,268
Provision for Income Taxes 1 5,039
Net Profit Transferred to Profit and Loss Account 33,401
$ 54,708
MISCELLANEOUS
Dividends and bonuses declared during the year — 45c. per share.
CONSTATING INSTRUMENTS
Incorporated as a Loan Corporation by Issue of Letters Patent dated October 4, 1961 under
The Loan and Trust Corporations Act.
Registered as a Loan Corporation under The Loan and Trust Corporations Act, November 9,
1961.
By Order-in-Council, June 24, 1964 the amount borrowed by way of debenture and
deposit may be increased to a sum not exceeding the aggregate of its cash on hand and eight
times the combined amounts of its unimpaired paid-in capital and reserve.
Loan Corporations — Detailed Reports
49
THE ONTARIO LOAN AND DEBENTURE COMPANY
Head Office, London, Ont.
Officers
President, M. F. Bell; Vice-President and Manager, E. W. Carpenter; Secretary, E. W.
Carpenter.
Directors
M. F. Bell; R. D. Harrington; G. H. Belton; R. W. Yantis; F. W. P. Jones; K. J. Shea;
D. M. Gunn; J. R. Gosnell; E. W. Carpenter.
Auditors
Clarkson, Gordon & Co.
Commenced Business in Ontario 1870.
Branch Offices
Toronto, Hamilton, Ottawa.
Capital Stock
Authorized Amount— $4,200,000. No. of Shares— 420,000. Par Value— $10.
Shares subscribed and amounts paid in — 250,000 shares $2,500,000
BALANCE SHEET AS AT DECEMBER 31, 1965
(at Book Value)
Office Premises $ 112,895
Furniture, Fixtures and Leasehold Improvements 45,566
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages 67,699,402
Loans Secured by Bonds, Stocks and Other Collateral:
Principal 95,791
Bonds and Debentures $ 6,000,755
Interest Accrued 85,626
6,086,381
Stocks 939,175
Cash on Hand 73,088
Cash on Deposit — With Chartered Banks in Canada $ 3 3 7, 623
—Elsewhere 179,213
516,836
Total Assets $ 75,569,134
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 49,768,202
Interest Due and Accrued 1,151. 3 68
$ 50,919,570
Money on Deposit $ 15,955,169
Interest Accrued 101,955
16,057,124
Taxes Other Than On Real Estate 251,1 10
Dividends Payable 100,000
$ 67,327,804
50
Annual Report —
Registrar of Loan and Trust Corporations
THE ONTARIO LOAN AND DEBENTURE COMPANY (Cont'd)
To Shareholders
Paid in Capital 2,500,000
Reserve Fund 5,650,000
Balance in Profit and Loss Account 91,330
$ 75,569,134
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 74,476
Add:
Amount Transferred from Revenue Account 666,854
$ 741,330
Deduct:
Dividends to Shareholders Declared During Year 100,000
Transfer to Reserve Fund 550,000
Balance at End of the Year $ 91,330
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 4,857,746
Collateral Loans 6,391
Bonds and Debentures 326,453
Stocks 54,708
$ 5,245,298
Agency Fees and Commissions Earned 8,110
Gross Profit on Sale of Securities and Real Estate 3,507
Other Revenue 3 4, 3 3 8
$ 5,291,253
Expenditure
Interest Incurred on:
Debentures $ 2,441,671
Deposits 697,515
Borrowed Money 60,356
$ 3,199,542
Licence Fees and Taxes (Other than Income and Real Estate Taxes) 19,558
Commissions on Sale of Debentures 33,975
Commissions — Other 62,689
All Other Expenses Incurred:
Advertising $ 33,693
Audit Fees 9,500
Directors' Fees 5,399
Legal Fees 504
Postage, Telegrams, Telephones and Express 7,265
Printing and Stationery 11,856
Rents 75
Salaries 248,404
Travelling 15,712
Miscellaneous 129,031
461,289
Gross Loss on Sale of Securities and Real Estate 115
Amounts by which Ledger Values of Assets were Written Down 10,000
Amounts Transferred to Investment Reserves 170,23 1
Total Expenditure excluding Income Taxes $ 3,957,399
Provision for Income Taxes 667,000
Net Profit Transferred to Profit and Loss Account 666,854
$ 5,291,253
Loan Corporations — Detailed Reports
51
THE ONTARIO LOAN AND DEBENTURE COMPANY (Concl'd)
MISCELLANEOUS
Dividends and bonuses declared during the year — 40c. per share.
The officers and employees of the Company are bonded for $500,000 by a Brokers Blanket Bond.
CONSTATING INSTRUMENTS
The Company was incorporated in 1870, under the Building Societies Act, Consolidated
Statutes of Upper Canada, Chapter 53, under the name, The Ontario Savings & Investment
Society.
By Order-in-Council of Ontario, October 4, 1879 and by Order-in-Council of Canada,
October 29, 1879, the corporate name was changed to The Ontario Loan and Debenture Co.
By Order-in-Council, November 10, 1911, the Agricultural Savings and Loan Company
was taken in by amalgamation.
By Order-in-Council, March 12, 1930, 20,000 shares, twenty per cent called and paid, were
converted into 4,000 shares fully paid, thereby reducing the authorized capital from 100,000
to 84,000 shares.
By Order-in-Council, March 5, 1953, the Company was authorized to subdivide its authorized
capital of 84,000 shares having a par value of $50 each into 420,000 shares having a par value of
$10 each.
By Order-in-Council dated March 19, 1959 the borrowing powers of the Company were
increased to a sum not exceeding eight times the aggregate amount of the paid-in unimpaired
permanent capital and reserve fund, plus cash of the Company.
By Order-in-Council dated March 26, 1964, the borrowing powers of the Company were in-
creased to a sum not exceeding the aggregate of its cash on hand or deposited in chartered banks
in Canada and twelve and one-half times the aggregate of the then actually paid-in and unimpaired
permanent capital and reserve fund.
52
Annual Report
— Registrar of Loan and Trust Corporations
THE ROYAL TRUST COMPANY MORTGAGE CORPORATION
Head Office, Montreal, Que.
Officers
President, C. F. Harrington; Vice-President, J. Pembroke; Manager, T. Hurdman; Secretary,
E. A. M. Edson.
Directors
W. A. Arbuckle; R. Clarkson; S. G. Dixon; C. F. Harrington; J. Pembroke; T. W.
Eadie; J. L. O'Brien; H. G. Smith; L. A. White.
Auditors
Riddell, Stead, Graham & Hutchison, Montreal.
Commenced Business in Ontario 1960.
Capital Stock
Authorized Amount— $14,500,000. No. of Shares — 45,000 Par Value— $100.
and 500,000. Par Value— $ 20.
Shares subscribed and amounts paid in — 22,000 shares at $100
—250,000 shares at $20 $7,200,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 85,806,785
Interest Due and Accrued 350,618
$ 86,157,403
Bonds and Debentures $ 8,925
Interest Accrued 1 50
9,075
Cash on Deposit 1,537,907
All Other Assets 1,392,821
Total Assets $ 89,097,206
Liabilities
To the Public
Debentures and Debenture Stock Issued and Outstanding:
Payable — In Canada $ 55,898,000
Interest Due and Accrued 938,370
$ 56,836,370
Borrowed Money $ 22,226,700
Interest Due and Accrued 150,379
22,377,079
Taxes Other Than on Real Estate 173,350
Dividends Payable 125,000
All Other Liabilities 220,05 6
$ 79,731,855
To Shareholders
Paid in Capital 7,200,000
Reserve Fund 1,835,000
Balance in Profit and Loss Account 330,351
$ 89,097,206
Loan Corporations — Detailed Reports 53
THE ROYAL TRUST COMPANY MORTGAGE CORPORATION (Cont'd)
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 280,3 17
Add:
Amount Transferred from Revenue Account 649,373
$ 929,690
Deduct:
Dividends to Shareholders Declared During Year 166, 167
Transfer to Reserve Fund 43 3 , 1 72
Balance at End of the Year $ 330,351
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 4,747,701
Other Assets 97,048
$ 4,844,749
Agency Fees and Commissions Earned 8,579
Gross Profit on Sale of Securities and Real Estate 16,544
$ 4,869,872
Expenditure
Interest Incurred on:
Debentures $ 1,997,631
Borrowed Money 1,066,218
$ 3,063,849
Licence Fees and Taxes (Other than Income and
Real Estate Taxes) 11,317
Commissions on Sale of Debentures 84,000
All Other Expenses Incurred:
Audit Fees $ 5,238
Directors' Fees 9,000
Legal Fees 795
Postage, Telegrams, Telephones and Express 220
Printing and Stationery 871
Travelling 180
Miscellaneous 759,029
775,333
Total Expenditure Excluding Income Taxes $ 3,934,499
Provision for Income Taxes 286,000
Net Profit Transferred to Profit and Loss Account 649,373
$ 4,869,872
MISCELLANEOUS
Dividends and Bonuses declared during the year — 50c per share on Series "A" 5% Cumulative
Preferred.
The officers and employees of the Company are bonded for $20,000,000 in excess of $50,000 by a
blanket fidelity bond carried by The Royal Trust Company.
CONSTATING INSTRUMENTS
The Royalty Trust Realty Company was incorporated by Letters Patent in the Province of
Quebec in 1912.
By Supplementary Letters Patent in 1959, the name of the Company was changed to The Royal
Trust Company Mortgage Corporation.
54
Annual Report — Registrar of Loan and Trust , Corporations
THE ROYAL TRUST COMPANY MORTGAGE CORPORATION (Concl'd)
By Supplementary Letters Patent issued December 20, 1961, the company was authorized to
reduce its authorized capital from $5,000,000 to $4,500,000 by the cancellation of 5,000 fully paid
shares; that, after the said cancellation, 5,000 fully paid shares be converted into 5,000 fully
paid 4% Cumulative Preferred shares of a par value of $ 1 00 each.
By Order-in-Council dated March 8, 1962, the amount which may be borrowed by way of
debentures and deposits was increased to a sum not exceeding the aggregate amounts of its cash
on loan and on deposit in chartered banks in Canada and eight times the combined amounts of
its unimpaired paid-in capital and reserve fund.
By Order-in-Council dated January 24, 1963, amount borrowed by way of debentures and
deposits was increased to a sum not exceeding the aggregate of the amount of its cash on hand and
in bank and of twelve and one-half times the combined amounts of its unimpaired paid-in capital
and reserve.
By Supplementary Letters Patent issued October 21, 1964, the company was authorized to
increase its share capital by $10,000,000, consisting of 500,000 preferred shares of a par value of
$20 per share.
By Supplementary Letters Patent issued September 29, 1965, company authorized re additional
125,000 Series "A" 5% Cumulative Preferred shares, par value $20.
By Order-in-Council dated October 15, 1965, amount borrowed by way of debentures and
deposits was increased to a sum not exceeding the aggregate of the amount of its cash on hand or
deposited in chartered banks in Canada and fifteen times the aggregate amount of the then
actually paid-in unimpaired permanent capital and reserve fund.
Loan Corporations — Detailed Reports
55
SETTLERS SAVINGS AND MORTGAGE CORPORATION
Head Office, Winnipeg, Manitoba
Officers
President, V. J. Swystun, Q.C.; General Manager, Hans Dene; Secretary, Dr. V. F. Bachyn-
ski; Treasurer, N. M. Miller.
Directors
Dr. V. F. Bachynski; Dr A. H. Cottick; D. H. Epp; M. P. Gowriluk; J. M. Hawryluk;
Dr. N. C. Hill; F. James; C. Ketchen; E. J. Klassen; S. P. Millan; N. M. Miller; F. J.
Rigney; J. Shanski; J. D. Shanski; Dr. J. Slogan; N. W. Swystun; V. J. Swystun, Q.C.; The
Honourable Paul Yuzyk.
Auditors
Touche, Ross, Bailey & Smart, Winnipeg.
Commenced Business in Ontario, October, 26, 1965.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 500,000. Par Value— $10.
Shares Subscribed and amounts paid in — 100,000 shares $524,045
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(At Book Value)
Furniture, Fittings and Leasehold Improvements $ 3,546
Mortgage Loans on Real Estate and Agreements of Sale :
First Mortgages $ 686,041
Interest Due and Accrued 205
686,246
Total Assets $ 689,792
Liabilities
To the Public
Borrowed Money $ 79,271
All Other Liabilities 8,396
$ 87,667
To Shareholders
Paid in Capital 524,045
Reserve Fund 78,080
$ 689,792
PROFIT AND LOSS ACCOUNT
Premium on Capital Stock sold during year $ 100,000
Deduct:
Incorporation and Organization Expenses 11,851
Amount Transferred from Revenue Account — 10,069
Balance at End of the Year $ 78,080
56
Annual Report
— Registrar of Loan and Trust Corporations
SETTLERS SAVINGS AND MORTGAGE CORPORATION (Concl'd)
REVENUE ACCOUNT
Income
Interest and Dividens Earned on:
Mortgages and Agreements of Sale $ 7,617
Bank Deposits 4,894
$ 12,511
Other Revenue 1,398
$ 13,909
Expenditure
Interest Incurred on:
Borrowed Money $ 459
Licence Fees and Taxes (Other than Income and
Real Estate Taxes 206
Commissions — Other 4,424
All Other Expenses Incurred:
Advertising $ 2,005
Audit Fees 2,500
Legal Fees 1,659
Postage, Telegrams, Telephones and Express 174
Printing and Stationery 1,292
Rents 2,805
Salaries 5,418
Travelling 254
Miscellaneous 2,782
18,889
Total Expenditure Excluding Income Taxes $ 23,978
Net Loss Transferred to Profit and Loss Account — 10,069
$ 13,909
MISCELLANEOUS
Hans Dene bonded for $2,000 by fidelity bond.
CONSTATING INSTRUMENTS
Incorporated by Special Act of Parliament Ch. 73 on March 18, 1965. Subject to limitations,
liabilities and provisions of Loan Companies Act.
Loan Corporations — Detailed Reports
57
TRADERS MORTGAGE COMPANY
Head Office, Toronto, Ont.
Officers
President, W. W. Evans; General Manager, A. V. Steele; Secretary, J. F. Descent.
Directors
J. F. Descent; H. E. Dynes; W. W. Evans; D. W. Naylor; G. E. Whitley; R. M. Will-
mott; A. V. Steele.
Auditors
Price Waterhouse & Co.
Commenced Business in Ontario 1959.
Capital Stock
Authorized Amount— $2,000,000. No. of Shares— 200,000. Par Value— $10.
Shares subscribed and amounts paid in — 44,695 shares $446,950
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(At Book Value)
Furniture, Fixtures and Leasehold Improvements $ 1,175
Mortgage Loans on Real Estate and Agreements of Sale :
First Mortgages $ 3,973,429
Interest Due and Accrued 6,789
3,980,218
Cash on Deposit — With Chartered Banks in Canada 27,203
All Other Assets 1,062
Total Assets $ 4,009,658
Liabilities
To the Public
Borrowed Money $ 3,306,000
Taxes Other than on Real Estate 25,635
Investment Reserves 37,268
All Other Liabilities 14,546
$ 3,383,449
To Shareholders
Paid in Capital 446,950
Reserve Fund 37,426
Balance in Profit and Loss Account 141,833
$ 4,009,658
PROFIT AND LOSS ACCOUNT
Balance Brought Forward From Previous Year $ 95,279
Add:
Amount Transferred from Revenue Account 46,554
Balance at end of the Year $ 141.833
58
Annual Report
— Registrar of Loan and Trust Corporations
TRADERS MORTGAGE COMPANY (Concl'd)
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 327,910
Other Revenue 7,595
$ 335,505
Expenditure
Borrowed Money $ 173,343
Licence Fees and Taxes (Other than Income and Real Estate Taxes) 1, 126
All Other Expenses Incurred:
Advertising $ 821
Audit Fees 660
Directors' Fees 1,700
Legal Fees 867
Postage, Telegrams, Telephones and Express 1,308
Printing and Stationery 597
Salaries 19,471
Miscellaneous 18,758
44,182
Amounts Transferred to Investment Reserves 19,867
Total Expenditure Excluding Income Taxes $ 238,518
Provision for Income Taxes 50,433
Net Profit Transferred to Profit and Loss Account 46,554
$ 335,505
MISCELLANEOUS
The officers are bonded under blanket bond of Parent Company, Interprovincial Building Credits,
Limited: President $50,000, Treasurer $100,000.
CONSTATING INSTRUMENTS
The Family Mortgage Company was incorporated under The Loan and Trust Corporations
Act by Letters Patent dated June 4, 1959, with Head Office in the City of Toronto, and registered
as a Loan Corporation on July 8, 1959.
By Order-in-Council dated April 11, 1963 the name of the Company was changed to Traders
Mortgage Company.
By Order-in-Council dated January 30, 1964 the borrowing powers of the Company were
increased to the aggregate of its cash on hand and on deposit in chartered banks in Canada and
eight times the aggregate of its paid-in and unimpaired permanent capital and reserve fund.
II. TRUST COMPANIES
DETAILED REPORTS OF THE SEVERAL
CORPORATIONS
59
Trust Companies — Detailed Reports
61
ADMINISTRATION AND TRUST COMPANY
Head Office, Montreal, Que.
Officers
President, J. A. Brillant; General Manager, J. H. Chretien; Secretary, J. R. Picotte.
Directors
J. A. Brillant; A. Simard; L. Smois; R. Grothe; L. Simard; E. Asselin; P. H. Bouffard;
J. Brillant; G. Martineau; B. Le Chartier; H. de Cazes; H. Chretien; P. P. Daigle;
P. Desrochers; J. St-Aubin; C. Pratte; R. Lavoie; R. Bock; D. O. Doheny.
Auditors
Courtois, Fredette, Charette & Cie.
Branch Offices
Vancouver, Edmonton, Regina, Winnipeg, Ottawa, Quebec, Chicoutimi, Three Rivers,
Rouyn.
Commenced Business in Ontario July, 1950.
Capital Stock
Authorized Amount— $3,000,000. No. of Shares— 600,000. Par Value — $5.
Amount subscribed and paid in— 300,000 shares $1,500,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Office Premises $ 29,187
Furniture, Fixtures and Leasehold Improvements 73,788
Real Estate held for Sale 94,403
Mortgage Loans on Real Estate:
First Mortgages $ 766,694
Interest Due and Accrued 1,291
767,985
Bonds and Debentures $ 1,546,793
Interest Accrued 14,946
1,561,739
Stocks 1,693,116
Cash on Hand $ 4,000
Cash on Deposit — Chartered Banks in Canada 33,016
Elsewhere 476
. 37,492
Owing from Guaranteed Funds 679,042
All Other Assets 193,743
Total Assets, Company Funds $ 5,130,495
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 13,073,822
Interest Due and Accrued 69,897
$ 13,143,719
Loans Secured by Bonds, Stocks and Other Collateral 10,248,385
Bonds and Debentures $ 9,513,376
Interest Accrued 134,876
9,648,252
62
Annual Report —
Registrar of Loan and Trust! Corporations
ADMINISTRATION AND TRUST COMPANY (Cont'd)
Stocks 41,250
Cash on Deposit — Chartered Banks in Canada 4,018,467
Total Assets, Guaranteed Funds $ 37,100,073
Estates, Trusts and Agency Funds:
Sundry Assets $372,661,938
Liabilities
Company Funds
Taxes Other than on Real Estate $ 237,879
Dividends Payable 195,000
Investment Reserves 40,298
All other Liabilities 314,962
$ 788 139
Paid in Capital 1,500,000
Reserve Fund 2,500,000
Balance in Profit and Loss Account 342,356
Total Liabilities, Company Funds $ 5,130,495
Guaranteed Funds
Trust Deposits $ 9,880,340
General Guaranteed Funds 26,540,691
Owing to Company Funds 679,042
Total Liabilities, Guaranteed Funds $ 37,100,073
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $372,661,938
Summary
Company Funds $ 5,130,495
Guaranteed Funds 37,100,073
Estates, Trusts and Agency Funds 372,661,938
$414,892,506
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 2,032
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 51,313
Bonds and Debentures 55,015
Stocks 50,251
Other Assets 131,343
$ 287,922
Profit in Guaranteed Funds 570,545
Fees and Commissions Earned on Estates, Trusts and Agencies 1,177,763
Gross Profit on Sale of Securities, Real Estate, etc 27,108
All Other Income 3,325
$ 2,068,695
Trust Companies — Detailed Reports
63
ADMINISTRATION AND TRUST COMPANY (Concl'd)
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 12,123
All Other Expenses Incurred:
Advertising $ 42,835
Audit Fees 7,750
Directors' Fees 31,650
Legal Fees 1,020
Maintenance of Office Premises 43,631
Postage, Telegrams, Telephones and Express 35,781
Printing and Stationery 34,658
Rents 50,533
Salaries 837,245
Staff Pension and Group Insurance 42,940
Travelling Expenses 28,696
Miscellaneous 65,336
$ 1,222,075
Provision for Depreciation 33,472
Total Expenditure Excluding Income Taxes $ 1,267,670
Provision for Income Taxes 330,000
Net Profit Transferred to Profit and Loss Account 471,025
$ 2,068,695
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 236,331
Add:
Amount Transferred from Revenue Account 471,025
$ 707,356
Deduct:
Dividends to Shareholders Declared During Year 315,000
Amount Transferred to Reserve Fund 50,000
Balance at December 31, 1965 $ 342,356
MISCELLANEOUS
Dividends and bonuses declared during the year — $1.05 per share.
The officers and employees of the Company are covered under bond for $2,000,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed funds — $7,153,795.
The Company has a deposit with the Province of Ontario in the amount of $237,000.
CONSTATING INSTRUMENTS
The Company was incorporated by a Special Act of the Province of Quebec, being Chapter 69,
2 Edward VII, on March 26, 1902. This Act was amended by Chapter 103, 2 George V; Chapter
1 18, 18 George V, and Chapter 126, George VI.
By an Act of the Province of Ontario, being Chapter 90, 14 George VI, 1950, the Company
was authorized and empowered to carry on the business of a trust company in Ontario.
64
Annual Report —
Registrar of Loan and Trust Corporations
THE BANKERS' TRUST COMPANY
Head Office, Montreal, Que.
Officers
President, C. F. Harrington; Manager, H. G. Kirton; Secretary, R. R. Merifield.
Directors
J. Pembroke; J. F. Close; M. Forget; A. M. Edson; C. F. Harrington; H. K. D. Heming;
D. D. Ross; H. G. Kirton; R. R. Merifield; K. A. White; R. S. Whyte.
Auditors
Riddell, Stead, Graham & Hutchison.
Branch Offices
Toronto, Vancouver, Winnipeg, Calgary, Charlottetown, Edmonton, Halifax, Hamilton,
London, Ottawa, Quebec, Saint John, Victoria, Montreal, Port Arthur.
Commenced Business in Ontario 1920.
Capital Stock
Authorized Amount— $1,000,000. No. of Shares— 10,000. Par Value— $100.
Amount subscribed and paid in — 2,500 shares $250,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Mortgage Loans on Real Estate:
First Mortgages $ 13,236
Interest Due and Accrued 74
$ 13,310
Loans Secured by Bonds, Stocks and other Collateral:
Principal $ 39,658
Interest Accrued 462
40,120
Bonds and Debentures $ 93,950
Interest Accrued 1,346
95,296
Stocks 526,757
Cash on Deposit 40,262
All other Assets 112
Total Assets, Company Funds $ 715,857
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 464,805
Other Assets 8,595,665
Total Assets, Estates, Trusts and Agency Funds
$ 9,060,470
Trust Companies — Detailed Reports 65
THE BANKERS' TRUST COMPANY (Cont'd)
Liabilities
Company Funds
Borrowed Money (Secured) $ 214,000
Taxes Other than on Real Estate 27,866
Investment Reserves 51,666
All Other liabilities 800
$ 294,332
Paid in Capital 250,000
Reserve Fund 50,000
Balance in Profit and Loss Account 121,525
Total Liabilities, Company Funds $ 715,857
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 9,060,470
Summary
Company Funds $ 715,857
Estates, Trusts and Agency Funds 9,060,470
$ 9,776,327
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 934
Bonds and Debentures 5,495
Stocks 17,299
Bank Deposits 2,358
$ 26,086
Fees and Commissions Earned on Estates, Trusts and Agencies 78,327
All Other Income 45
Total $ 104,458
Expenditure
Taxes, Licenses and Fees (Excluding Income Tax and Tax on Real Estate) $ 2,067
All Other Expenses Incurred:
Audit Fees $ 330
Printing and Stationery 180
510
Total Expenditure Excluding Income Taxes $ 2,577
Provision for Income Taxes 43,825
Net Profit Transferred to Profit and Loss Account 58,056
$ 104,458
66
Annual Report
— Registrar of Loan and Trust Corporations
THE BANKERS' TRUST COMPANY (Concl'd)
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 103,469
Add:
Amount Transferred from Revenue Account 58,056
$ 161,525
Deduct:
Dividends to Shareholders Declared During Year 40,000
Balance at December 31, 1965 $ 121,525
MISCELLANEOUS
Dividends and bonuses declared during the year $ 1 6 per share.
The officers and employees of the Company are covered under bond for $20,000,000 in excess of
$50,000.
The Company has a deposit with the Province of Ontario in the amount of $60,000.
CONSTATING INSTRUMENTS
The Company was incorporated by an Act of the Province of Quebec, being Chapter 78,
5 Edward VII, 1905. This Act was amended by Chapter 114, 9 Edward VII, May 7, 1909;
Chapter 125, 5 George V, March 5, 1915; Chapter 102, 7 George V, December 22, 1916, and
Chapter 125, 9 George V, March 4, 1919.
By an Act of the Province of Ontario, being Chapter 156, 10-11 George V, June 4, 1920, the
Company was authorized and empowered to carry on the business of a Trust Company in Ontario.
Trust Companies — Detailed Reports
67
CANADA PERMANENT TRUST COMPANY
Head Office, Toronto, Ont.
Officers
President, C. F. Mackenzie; General Manager, W. L. Knowlton; Secretary, G. F.
McKitterick.
Directors
C. S. Band; A. L. Bishop; E. G. Burton; H. J. Carmichael; C. F. H. Carson; C. G.
Cockshutt; C. G. Gale; F. G. Gardiner; H. S. Gooderham; W. C. Harris; R. L. Kellock;
W. L. Knowlton; L. J. Ladner; A. T. Lambert; T. D'A. Leonard; J. A. MacAulay; J. K.
MacDonald; C. F. Mackenzie; G. F. Maclaren; H. W. Manning; A. B. Matthews; D. A.
McIntosh; G. P. Osler; R. D. Parker; J. M. Pigott; N. S. Robertson; R. M. Sale; L. M.
Savage; C. Sifton; C. M. A. Strathy; E. H. Tanner; D. K. Tow; T. Wilding; F. G. Winspear;
H. C. Hatch; J. I. MacLaren; E. S. Frosst; B. R. B. Magee; B. Matthews; W. H. Mowat.
Auditors
K. A. Mapp, F.C.A., and J. R. M. Wilson, F.C.A.
Branch Offices
Halifax, Saint John, Montreal, Ottawa, Port Hope, Hamilton, Brantford, Kitchener, Wood-
stock, London, Windsor, Winnipeg, Regina, Saskatoon, Calgary, Edmonton, Vancouver, Victoria,
Oshawa, Sudbury, Sault Ste. Marie, Port Arthur, CbMwack, Toronto, St. John's, Fredericton,
Oakville, Gait, Dawson Creek, Charlottetown, Dartmouth, Sarnia, Prince George, Penticton.
Commenced Business in Ontario 1882.
Capital Stock
Authorized Amount— $10,000,000. No. of Shares— 500,000. Par Value— $20.
Amount subscribed and paid in — 230,800 shares $4,616,000
BALANCE SHEET AS AT DECEMBER 31, 1965
(at Book Value)
Company Funds
Office Premises $ 3,741,739
Furniture Fixtures and Leasehold Improvements 373,261
Real Estate Held for Sale 263,526
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 1,063,744
Agreements of Sale 9,030
Interest Due and Accrued 8,071
Loans Secured by Bonds, Stocks and other Collateral:
Principal $ 808,144
Interest Accrued 8,555
Bonds and Debentures $ 5,112,154
Interest Accrued 48,678
Stocks $ 2,801,111
Accrued Dividends 35,817
1,080,845
816,699
5,160,832
2,836,928
Cash on Hand $ 4,321
Cash on Deposit — Chartered Banks in Canada 552,610
— Elsewhere 186,874
743,805
Advances to Estates, Trusts, etc., Under Administration 168,463
Total Assets, Company Funds $ 15,186,098
68
Annual Report —
Registrar of Loan and Trust Corporations
CANADA PERMANENT TRUST COMPANY (Cont'd)
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 86,601,489
Second and Subsequent Mortgages 80,000
Interest Due and Accrued 389,958
Loans Secured by Bonds, Stocks and Other Collateral:
Principal
Interest Accrued
Bonds and Debentures
Interest Accrued
Stocks
Accrued Dividends
Cash on Hand
Cash on Deposit — Chartered Banks in Canada
— Elsewhere
$
1,097,868
11,806
$ 47,359,718
655,055
$
44,901
885
$
358,053
2,451,572
545,882
$ 87,071,447
1,109,674
48,014,773
45,786
3,355,507
Total Assets, Guaranteed Funds $139,597,187
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 31,043,918
Other Assets 1,002,915,020
Total Assets, Estates, Trusts and Agency Funds $1,033,958,938
Liabilities
Company Funds
Taxes other than on Real Estate $ 408,859
Investment Reserves 2,820,141
$ 3,229,000
Paid-in Capital 4,616,000
Reserve Fund 7,000,000
Balance in Profit and Loss Account 341,098
Total Liabilities, Company Funds $ 15,186,098
Guaranteed Funds
Trust Deposits $ 43,978,468
Specific Guaranteed Funds 37,250
General Guaranteed Funds 94,356,027
Interest Accrued 1,225,442
Total Liabilities, Guaranteed Funds $ 139,597,187
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $1,033,790,475
Owing to Company Funds 168,463
Total Liabilities, Estates, Trusts and Agency Funds $1,033,958,938
Summary
Company Funds $ 15,186,098
Guaranteed Funds 139,597,187
Estates, Trusts and Agency Funds 1,033,958,938
$ 1,188,742,223
Trust Companies — Detailed Reports
69
CANADA PERMANENT TRUST COMPANY (Cont'd)
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 108,951
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 73,135
Collateral Loans 32,446
Bonds and Debentures 174,122
Stocks 189,319
Bank Deposits 3,567
Other Assets 27
472,616
Profit in Guaranteed Funds 1,523,026
Fees and Commissions Earned on Estates, Trusts and Agencies 6,809,160
Gross Profit on Sale of Securities, Real Estate, etc 55,188
All Other Income 84,311
Total $ 9,053,252
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 153,183
Commission on Loans 46
All Other Expenses Incurred:
Advertising $ 223,329
Audit Fees 66,750
Directors' Fees 60,600
Furniture and Fixtures 30,515
Legal Fees 18,747
Maintenance of Office Premises 40,555
Postage, Telegrams, Telephones and Express 121,179
Printing and Stationery 190,616
Rents 717,836
Salaries 4,294,427
Staff Pension and Group Insurance 351,190
Travelling Expenses 90,887
Miscellaneous 523,142
6,729,773
Gross Loss on Sale of Securities and Real Estate 307
Provision for Depreciation 196,799
Amount Transferred to Investment Reserves 249,881
Total Expenditure Excluding Income Taxes $ 7,329,989
Provision for Income Taxes 767,000
Net Profit Transferred to Profit and Loss Account 956,263
$ 9,053,252
PROFIT AND LOSS ACCOUNT
Balance brought forward from previous year $ 327,235
Add:
Amount transferred from Revenue Account 956,263
$ 1,283,498
Deduct:
Dividends to shareholders declared during year 692,400
Amount transferred to Reserve Fund 250,000
Balance at December 31, 1965 $ 341,098
70
Annual Report — Registrar of Loan and Trust Corporations
CANADA PERMANENT TRUST COMPANY (Cont'd)
MISCELLANEOUS
Dividends and bonuses declared during the year — $3.00 per share.
Amounts belonging to estates, trusts and agency funds held in guaranteed fund — $2,201,502.
All staff are covered under a banker's blanket bond — $5,000,000.
CONSTATING INSTRUMENTS
Canada Permanent Trust Company
The Canada Permanent Trust Company was incorporated in 1913 by a Special Act of
Parliament of the Dominion of Canada, 3-4 Geo. V, c. 87.
Authorized by Order-in -Council (May 7, 1913) to carry on business in the Province of Ontario
as a Trust Company, pursuant to the provisions of The Loan and Trust Corporations Act, R.S.O.
1927, c. 223.
In 1927 the Company purchased the assets and business of The Brantford Trust Company,
which purchase was ratified by Order-in-Council of Ontario, dated August 31, 1927, pursuant to
The Loan and Trust Corporations Act.
In 1949 the Company purchased the assets and business of the General Trust and Executor
Corporation, Halifax, N.S.
In 1961 The Canada Permanent Trust Company and the Toronto General Trusts Corporation
were amalgamated under the name Canada Permanent Toronto General Trust Company, ratified
by Order-in-Council of Ontario dated November 23, 1961. Registered December 1, 1961.
Toronto General Trusts Corporation
1872 — An Act to incorporate The Toronto General Trusts Company. Approval of Company
by Lieutenant Governor of Ontario in Council.
1885 — Letters Patent extending the powers of the Company.
1887 — Letters Patent increasing the stock of the Company to One Million Dollars.
1888 — Letters Patent empowering the Directors to fix the quorum of the board by by-law.
1888 — Letters Patent incorporating The Trusts Corporation of Ontario.
1889 — Letters Patent authorizing the Company to hold real estate and to act as a safe deposit
company.
1896 — Letters Patent incorporating the Ottawa Trusts and Deposit Company, Limited.
1897 — Letters Patent authorizing the Company to act in the winding up of estates, partner-
ships, companies and corporations.
1899 — An Act to amalgamate The Toronto General Trusts Company and The Trusts Corpora-
tion of Ontario.
1899 — An Act to incorporate The Winnipeg General Trusts Company.
1902 — An Act to permit The Toronto General Trusts Corporation to carry on business in
Manitoba, and to confirm a deed of agreement with The Winnipeg General Trusts Company.
1902 — Approval of Corporation by Lieutenant Governor of Manitoba in Council.
1903 — An Ordinance to permit the Corporation to carry on business in the Northwest
Territories.
1903 — An Indenture of Purchase of The Ottawa Trust and Deposit Company, Limited. A
Supplementary Indenture. Approval of above Indentures by Lieutenant Governor of Ontario in
Council. Certificate of Attorney General of Ontario under The Loan Corporations Act.
1904 — Certificate of Corporations Register.
1904 — An Act to permit The Toronto General Trusts Corporation to carry on business in the
Province of Quebec.
1905 — License to carry on business in British Columbia.
1909 — Letters Patent amending Act of 1899 with reference to dividends.
1912— Order-in-Council increasing capital from $1,000,000.00 to $2,000,000.00.
1928— Order-in-Council increasing capital from $2,000,000.00 to $3,000,000.00.
Trust Companies — Detailed Reports
71
CANADA PERMANENT TRUST COMPANY (Concl'd)
1931_Order-in-Council dated February 17, 1931, increasing capital from $3,000,000.00 to
$5,000,000.00.
1950 — Order-in-Council dated November 30, 1950, changing Par Value of Capital Stock from
$100.00 to $20.00.
1952 — An Indenture Agreement to purchase The Ottawa Valley Trust Company assented
to by Order-in-Council dated June 19, 1952.
1954 — An Indenture Agreement to purchase the Osier & Nanton Trust Company assented
to by Order-in-Council of Province of Ontario dated April 1st, 1954. Private Act of the Legislature
of Province of Manitoba respecting the Toronto General Trusts Corporation and Osier & Nanton
Trust Company given Royal Assent on March 25, 1954.
Canada Permanent Toronto General Trust Company
In 1961 The Canada Permanent Trust Company and Toronto General Trusts Corporation
were amalgamated under the name of Canada Permanent Toronto General Trust Company
approved by Order of the Governor in Council in Canada dated November 16, 1961, and assented
to by Order-in-Council of the Lieutenant Governor in Council of Ontario, dated November 23,
1961.
By an Act of the Parliament of Canada assented to July 22, 1963, the name of the Company
in English was changed to Canada Permanent Trust Company, and in French to La Compagnie de
Fiducie, Canada Permanent.
72
Annual Report
— Registrar of Loan and Trust Corporations
THE CANADA TRUST COMPANY
Head Office, London, Ont.
Officers
Chairman of the Board, V. P. Cronyn; President and General Manager, J . A. Taylor;
Secretary, R. A. Knighton.
Directors
R. P. Baker; A. E. Barron; W. J. Blackburn; V. P. Cronyn; G. Farrell; E. L. Harvie;
J. Jeffery; T. Lawson; H. H. Leather; I. Leonard; M. Meighan; R. H. Reid; J. M. Riddell;
G. W. Robinson; F. M. Ross; S. J. Smith; A. C. Spencer; J. A. Taylor; J. G. Thompson; A. E.
Walford; C. Wallace; R. B. Wilson; G. E. Creber; F. P. Galbraith; N. Torno; J. V. Clyne;
R. Chagnon; G. E. Sharpe; J. J. Stuart.
Auditors
Kris A. Mapp, F.C.A., and W. B. Weldon, C.A.
Branch Offices
St. Thomas, Regina, Winnipeg, Edmonton, Windsor, Toronto, Chatham, Victoria, Hamilton,
Vancouver, Montreal, Guelph, St. Catharines, Calgary, New Westminster, Sarnia, Ottawa, Red
Deer, Kitchener, Lethbridge, Medicine Hat, Halifax, Saskatoon, Barrie, Port Colborne, Brandon,
London, Kingston, Nanaimo, Moose Jaw, Prince George, Stratford.
Commenced Business in Ontario January 31, 1901.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 250,000. Par Value— $20.
Amount subscribed and paid in— 250,000 shares $5,000,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Office Premises $ 1,903,480
Furniture, Fixtures and Leasehold Improvements 51,958
Agreements of Sale:
First Mortgages 1,690,919
Bonds and Debentures $ 5,783,199
Interest Accrued 42,902
5,826,101
Stocks 3,330,635
Cash on Hand $ 11,309
Cash on Deposit 3,797,985
3,809,294
Advances to Estates, Trusts, etc., Under Administration 1,003,467
Total Assets, Company Funds $ 17,615,854
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $135,335,023
Interest Due and Accrued 3,655,056
$138,990,079
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 94,990
Interest Accrued 1,022
96,012
Bonds and Debentures $ 38,146,295
Interest Accrued 317,344
38,463,639
Cash on Deposit — Chartered Banks in Canada 656,303
Total Assets, Guaranteed Funds $178,206,033
Trust Companies — Detailed Reports 73
THE CANADA TRUST COMPANY (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 17,915,522
Other Assets 777,198,650
Total Assets, Estates, Trusts and Agency Funds $795,114,172
Liabilities
Company Funds
Borrowed Money (secured) $ 1,240,005
Taxes Other than on Real Estate 385,000
Dividends Payable 200,000
$ 1,825,005
Paid-in Capital 5,000,000
Reserve Fund 10,600,000
Balance in Profit and Loss Account 190,849
Total Liabilities, Company Funds $ 17,615,854
Guaranteed Funds
Trust Deposits $ 84,009,516
Specific Guaranteed Funds 14,405,157
General Guaranteed Funds 77,771,616
Interest Accrued 2,019,744
Total Liabilities, Guaranteed Funds $178,206,033
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $794,110,705
Owing to Company Funds 1,003,467
Total Liabilities, Estates, Trusts and Agency Funds $795,114,172
Summary
Company Funds $ 17,615,854
Guaranteed Funds 178,206,033
Estates, Trusts and Agency Funds 795,114,172
$990,936,059
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 286,693
Bonds and Debentures 164,195
Stocks 115,394
Bank Deposits 15,606
Other Assets 35,246
„ m $ 617,134
Profit in Guaranteed Funds 3,244,403
Fees and Commissions Earned on Estates, Trusts and Agencies 4,682,625
Gross Profit on Sale of Securities, Real Estate, etc 10,304
All Other Income 59,331
Total $ 8,613,797
74 Annual Report — Registrar of Loan and Trust Corporations
THE CANADA TRUST COMPANY (Cont'd)
Expenditure
Interest Incurred during the year $ 41,436
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) 61,842
Commission on Loans 3,754
All Other Expenses Incurred :
Advertising $ 333,434
Audit Fees 48,936
Directors' Fees 43,075
Furniture and Fixtures 20,246
Legal Fees 7,215
Postage, Telegrams, Telephones and Express 148,067
Printing and Stationery 151,965
Rents 837,891
Salaries 3,358,964
Staff Pension and Group Insurance 146,010
Travelling Expenses 129,397
Miscellaneous 361,701
5,586,901
Provision for Depreciation 45,549
Amount by which Ledger Values of Assets were written down 72,565
Amount Transferred to Investment Reserves 714,285
Total Expenditure Excluding Income Taxes $ 6,526,332
Provision for Income Taxes 1,040,161
Net Profit Transferred to Profit and Loss Account 1,047,304
$ 8,613,797
PROFIT AND LOSS ACCOUNT
Balance brought forward from previous year $ 96,274
Add:
Amount transferred from Revenue Account 1,047,304
Premium on Capital Stock sold during year 1,450,000
$ 2,593,578
Deduct:
Dividends to Shareholders declared during year 400,000
Amount transferred to Reserve Fund 2,002,729
Balance at December 3 1, 1965 $ 190,849
MISCELLANEOUS
Dividends and bonuses declared during the year — $2.00 per share.
The officers and employees of the Company are covered by blanket bond up to $3,000,000 in case
of default of one or more members of staff.
Amounts belonging to estates, trusts and agency funds held on deposit in guaranteed funds —
$916,036.
CONSTATING INSTRUMENTS
1894 — 57-58 Victoria, chapter 1 15, Canada: an Act incorporating The General Trust Corpora-
tion of Canada.
1899 — 62-63 Victoria, chapter 111, Canada: an Act changing the name of The General Trust
Corporation of Canada to The Canada Trust Company and authorizing certain investments of funds
other than trust funds, and authorizing an increase of capital subject to certain limitations, to an
amount not exceeding $5,000,000.
Trust Companies — Detailed Reports
75
THE CANADA TRUST COMPANY (Concl'd)
1922 — 12-13 Geo. V. Chapter 67, Canada: an Aot increasing the Company's board of direc-
tors from 9 to 21 and authorizing the Company to receive money on deposit.
1930 — January 21: an Order of the Lieutenant Governor of the Province of Ontario in
Council, assenting to an agreement for the purchase by The Canada Trust Company of The Con-
solidated Trusts Corporation.
1938 — April 9: an Order of the Lieutenant Governor of the Province of Ontario in Council,
assenting to an agreement for the purchase by The Canada Trust Company of The Community
Trusts Corporation.
1947 — February 13: an Order of the Lieutenant Governor of the Province of Ontario in
Council, assenting to an agreement for the purchase by The Canada Trust Company of The London
and Western Trusts Limited.
The powers of the Company are defined by sections of the incorporating Act, which powers are
(Section 4) to be deemed subject to the laws of the Province.
1949 — December 1: an Order of the Lieutenant Governor of the Province of Ontario in
Council, assenting to an agreement for the purchase by The Canada Trust Company of The Guelph
Trust Company.
1956 — Under Section 33 of the Dominion Trust Companies Act, a by-law was enacted increas-
ing the Capital Stock from $2,000,000 to $3,000,000.
1963 — Under Section 33 of the Dominion Trust Companies Act, a by-law was enacted increas-
ing the Capital Stock from $3,000,000 to $4,000,000.
1965 — Under Section 33 of the Dominion Trust Companies Act, a by-law was enacted increas-
ing the Capital Stock from $4,000,000 to $5,000,000.
76
Annual Report —
Registrar of Loan and Trust Corporations
THE CENTRAL ONTARIO TRUST AND SAVINGS CORPORATION
Head Office, Oshawa, Out.
Officers
President and General Manager, J. W. Doswell; Secretary, E. Marks.
Directors
C. Armstrong; W. Bell; T. K. Creighton; J. W. Doswell; F. Falkiner; J. L. Fenn; D. R.
Fraser; S. T. Hopkins; W. W. Lasby; H. Macdonald; E. Marks; E. E. H. McLaughlin; A. G.
Williamson; J. A. Yanch; W. E. Austin.
Auditors
Price, Waterhouse & Co.
Commenced Business in Ontario September 24, 1964.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 500,000. Par Value— $10.
Amount subscribed and paid in — 67,157 shares $671,570
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Furniture, Fixtures and Leasehold Improvements $ 45,360
Loans Secured by Bonds, Stocks and other Collateral:
Principal $ 36,570
Interest Accrued 561
Bonds and Debentures $ 389,532
Interest Accrued 2,622
37,131
392,154
Cash on Hand $ 150
Cash on Deposit — Chartered Banks in Canada 103,321
103,471
All other Assets 137,826
Total Assets, Company Funds $ 715,942
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 2,690,151
Second and subsequent Mortgages 17,621
Interest Due and Accrued 18,900
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 48,185
Interest Accrued 150
Bonds and Debentures $ 1,167,311
Interest Accrued 16,020
Cash on Hand $ 28,750
Cash on Deposit Chartered Banks in Canada 36,834
$ 2,726,672
48,335
1,183,331
65,584
Total Assets, Guaranteed Funds $ 4,023,922
Trust Companies — Detailed Reports 77
THE CENTRAL ONTARIO TRUST AND SAVINGS CORPORATION (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 8,135
Other Assets 344,430
Total Assets, Estates, Trusts and Agency Funds $ 352,565
Liabilities
Company Funds
Accounts Payable $ 9,349
Paid-in Capital 671,570
Balance in Profit and Loss Account 35,023
Total Liabilities, Company Funds $ 715,942
Guaranteed Funds
Trust Deposits $ 3,005,002
General Guaranteed Funds 1,018,117
Interest Accrued 803
Total Liabilities, Guaranteed Funds $ 4,023,922
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 352,565
Summary
Company Funds $ 715,942
Guaranteed Funds 4,023,922
Estates, Trusts and Agency Funds 352,565
$ 5,092,429
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Collateral Loans $ 2,290
Bonds and Debentures 18,750
Stocks 225
Other Assets 822
$ 22,087
Profit in Guaranteed Funds 70,082
Fees and Commissions Earned on Estates, Trusts and Agencies 131,845
Gross Profit on Sale of Securities, Real Estate, etc 2,021
All Other Income 7,488
Total $ 233,523
78
Annual Report —
Registrar of Loan and Trust ( Corporations
THE CENTRAL ONTARIO TRUST AND SAVINGS CORPORATION (Concl'd)
Expenditure
Interest Incurred during the year $ 10,228
Taxes, Licenses and Fees (Excluding Income Tax and Tax on Real Estate) 2,716
Commissions on Loans 13,323
All Other Expenses Incurred:
Advertising $ 16,196
Audit Fees 1,465
Legal Fees 500
Maintenance of Office Premises 4,582
Postage, Telegrams, Telephones and Express 7,606
Printing and Stationery 5,510
Salaries 106,030
Rents 15,237
Staff Pension and Group Insurance 2,454
Travelling Expenses 3,836
Miscellaneous 29,219
. $ 192,635
Gross Loss on Sale of Securities and Real Estate 3,348
Amount by which ledger assets were written down 13,288
Total Expenditure $ 235,538
Net Loss Transferred to Profit and Loss Account * — 2,015
$ 233,523
* Before charging Preliminary Promotion and Set Up Costs $32,624 (Charged in Profit and Loss
Account).
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 11,013
Add:
Premium on Capital Stock Sold During Year 58,649
$ 69,662
Deduct:
Preliminary Promotion and Set Up Costs of Offices 32,624
Loss Transferred from Revenue Account 2,015
Balance at December 31, 1965 $ 35,023
MISCELLANEOUS
The officers and employees of the Company are covered by a Bankers' blanket bond for $250,000.
CONSTATING INSTRUMENTS
July 9, 1964 — Incorporated under The Loan and Trust Corporations Act (Ontario).
Trust Companies — Detailed Reports
79
CROWN TRUST COMPANY
Head Office, Toronto, Ont.
Officers
President, J. A. McDougald; General Manager, H. F. Kerrigan; Secretary, R. J. Hilliard.
Directors
J. A. McDougald; R. C. Berkinshaw; A. L. Fairley; H. A. Howard; J. P. Anglin;
R. A. Brown, Jr.; M. Bruce; C. T. Clark; F. M. Connell; F. J. Crawford; S. E. Dinsmore;
W. L. Duffield; P. A. DuMoulin; M. A. Dutton; P. C. Finlay; H. J. Fraser; E. T. Godwin;
G. R. Hunter; J. L. Lewtas; J. W. Horsey; W. Ingram; J. D. Leitch; A. A. McMarttn;
R. W. Milner; J. M. Mulford; J. G. Notman; W. L. S. O'Brien; G. H. McIvor; S. B. Playfair;
W. R. Salter; H. H. Stkeman; A. Wainwright; A. Monast; A. A. Thornbrough.
Auditors
Peat, Marwick, Mitchell & Company.
Branch Offices
Montreal, Brantford, London, Windsor, Winnipeg, Calgary, Vancouver, Toronto.
Commenced Business in Ontario March 10, 1897.
Capital Stock
Authorized Amount— $5,000,000. No. of shares— 500,000. Par Value— $10.
Amount subscribed and paid in — 150,000 shares $1,500,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Offices Premises $ 450,000
Loans Secured by Bonds, Stocks and other Collateral:
Principal $ 1,185,611
Interest Accrued 1,189
1,186,800
Bonds and Debentures $ 2,044,325
Interest Accrued 28,231
2,072,556
Stocks 890,090
Cash on Hand $ 6,825
Cash on Deposit — Chartered Banks in Canada 465,204
—Elsewhere 2,327
474,356
Advances to Estates, Trusts, etc., Under Administration 336,615
Total Assets, Company Funds $ 5,410,417
Guaranteed Funds
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 42,968,416
Agreements of Sale 23,047
Interest Due and Accrued 214,045
$ 43,205.508
80
Annual Report — Registrar of Loan and Trust, Corporations
CROWN TRUST COMPANY (Cont'd)
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 11,358,585
Interest Accrued 43,719
, [ J 4Q2 304
Bonds and Debentures $ 14,806,532
Interest Accrued 135,765
14,942,297
Stocks 78,484
Cash on Hand $ 72,140
Cash on Deposit — Chartered Banks in Canada 317,112
—Elsewhere 8,881
398,133
Total Assets, Guaranteed Funds $ 70,026,726
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 1 1,046,780
Other Assets 289,821,213
Total Assets, Estates, Trusts and Agency Funds $300,867,993
Liabilities
Company Funds
Taxes Other than on Real Estate $ 154,421
Dividends Payable 67,500
$ 221,921
Paid in Capital 1,500,000
Reserve Fund 3,500,000
Balance in Profit and Loss Account 188,496
Total Liabilities, Company Funds $ 5,410,417
Guaranteed Funds
Trust Deposits $ 33,760,145
Specific Guaranteed Funds 3,468,140
General Guaranteed Funds 32,673,407
Interest Accrued 125,034
Total Liabilities, Guaranteed Funds $ 70,026,726
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $300,531,378
Owing to Company Funds 336,615
Total Liabilities, Estates, Trusts and Agency Funds $300,867,993
Summary
Company Funds $ 5,410,417
Guaranteed Funds 70,026,726
Estates, Trusts and Agency Funds 300,867,993
$376,305,136
Trust Companies — Detailed Reports
81
CROWN TRUST COMPANY (Cont'd)
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Collateral Loans $ 13,516
Bonds and Debentures 112,537
Stocks 49,197
Other Assets 176,414
$ 351,664
Profit in Guaranteed Funds 1,229,675
Fees and Commissions Earned on Estates, Trusts and Agencies 2,588,057
Gross Profit on Sale of Securities, Real Estate, etc 2,940
All Other Income 34,275
Total $ 4,206,611
Expenditure
Interest Incurred During the Year $ 20
Taxes, Licenses and Fees (Excluding Income Tax and Tax on Real Estate) 44,721
All Other Expenses Incurred:
Advertising $ 73,045
Audit Fees 17,600
Directors' Fees 18,060
Legal Fees 12,274
Postage, Telegrams, Telephones and Express 26,385
Printing and Stationery 80,697
Rents 295,334
Salaries 1,963,923
Staff Pension and Group Insurance 65,712
Travelling Expenses 29,902
Miscellaneous 488,702
$ 3,071,634
Provision for Depreciation 56,641
Total Expenditure Excluding Income Taxes $ 3,173,016
Provision for Income Taxes 502,000
Net Profit Transferred to Profit and Loss Account 531,595
$ 4,206,611
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 176,901
Add:
Amount Transferred from Revenue Account 531,595
$ 708,496
Deduct:
Dividends to Shareholders Declared During Year 270,000
Amount Transferred to Reserve Fund 250,000
Balance at December 31, 1965 $ 188,496
MISCELLANEOUS
Dividends and bonuses declared during the year — $ 1 .80 per share.
The officers and employees of the Company are covered by a brokers blanket bond for $1,000,000.
Amounts owing to estates, trusts and agency funds held in guaranteed funds — $3,621,745.
82
Annual Report
— Registrar of Loan and Trust Corporations
(CROWN TRUST COMPANY (Concl'd)
CONSTATING INSTRUMENTS
Feb. 24, 1897 — Incorporated as The Trusts and Guarantee Company, Limited, under the
provisions of R.S.O. 1887, c. 157, and The Trust Company Act, 1895.
Dec. 23, 1897 — Supplementary Letters Patent, confirming By-law increasing Capital Stock
from $500,000 to $2,000,000 (40,000 shares of $50.00 par value).
Feb. 25, 1898 — Order-in-Council granting power to operate outside Ontario.
Aug. 14, 1900 — Supplementary Letters Patent, increasing powers of investment.
Mar. 28, 1907 — Supplementary Letters Patent, redividing Capital Stock into 20,000 shares
of $100.00 each.
Jan. 25, 1934 — Order-in-Council confirming By-law increasing Capital Stock to $3,000,000.
Jan. 25, 1934 — Order-in-Council assenting to the purchase of the assets of Union Trust
Company Limited.
Oct. 30, 1940 — Order-in-Council approving decrease of Capital Stock from $3,000,000 to
$1,500,000.
May 21, 1946 — R.S.O. 1946, c. 143, changing name to Crown Trust and Guarantee Company.
May 21, 1946 — Order-in-Council assenting to the purchase of Crown Trust Company.
Dec. 23, 1947 — Order-in-Council changing name to Crown Trust Company.
Feb. 10, 1955 — Order-in-Council, confirming By-law "H", a by-law subdividing the $100.00
par value shares into shares of $ 10.00 par value.
Mar. 22, 1956 — Order-in-Council confirming By-law "I", a by-law increasing the Capital
Stock from $1,500,000 to $5,000,000.
Trust Companies — Detailed Reports
83
DISTRICT TRUST COMPANY
Head Office, London, Ont.
Officers
Chairman of the Board, S. E. Weir; President, B. I. Baldwin; General Manager, J. W.
Boughner; Secretary, V. Burnard.
Directors
W. J. Amos; B. I. Baldwin; W. C. P. Baldwin; F. F. R. Boyes; N. G. Burdick; S. H.
Carver; J. W. Douglas; W. J. Gorman; L. H. Gray; F. M. Halls; H. L. Hayman; A. M.
Hueston; J. A. Irvine; W. A. Keyser; F. O. Kime; T. F. Kingsmill; J. G. Lind; F. J.
McDonald; W. J. McDougall; J. A. McNee; G. T. Moore; S. A. Mortin; J. B. Nash; E. W.
Ostrander; E. E. Reilly; C. H. Smith; E. A. Spence; P. F. Tillman; S. E. Weir; K. L.
Cunningham.
Auditors
Gunn, Roberts & Co.
Branch Offices
London, Strathroy.
Commenced Business in Ontario June 12, 1964.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 500,000. Par Value— $10.
Amount subscribed and paid in — 160,000 shares $1,600,000
BALANCE SHEET AS AT OCTOBER 31, 1965
(at Book Value)
Company Funds
Office Premises $ 35,177
Furniture, Fixtures and Leasehold Improvements 51,037
Mortgage Loans on Real Estate:
First Mortgages $ 1,085,079
Interest Due and Accrued 5,262
1,090,341
Bonds and Debentures $ 574,437
Interest Accrued 4,499
578,936
Cash on Deposit — Chartered Banks in Canada 21,254
Owing from Guaranteed Funds 300
All Other Assets 880
Total Assets, Company Funds $ 1,777,925
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 1,829,944
Interest Due and Accrued 7,960
Loans Secured by Bonds, Stocks and Other Collateral:
Principal
Interest Accrued
Interest Accrued
$
20,014
97
$
305,624
3,281
$ 1,837,904
20,111
308,905
84
Annual Report — Registrar of Loan and Trust Corporations
DISTRICT TRUST COMPANY (Cont'd)
Cash on Hand $ 27,034
Cash on Deposit — Chartered Banks in Canada 20,671
47,705
Total Assets, Guaranteed Funds $ 2,214,625
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 16,120
Other Assets 86,098
Total Assets, Estates, Trust and Agency Funds $ 102,218
Liabilities
Company Funds
Accounts Payable $ 8,776
Paid in Capital 1,600,000
Reserve Fund 182,069
Balance in Profit and Loss — Deficit — 12,920
Total Liabilities, Company Funds $ 1,777,925
Guaranteed Funds
Trust Deposits $ 1,026,958
Specific Guaranteed Funds 27,365
General Guaranteed Funds 1,140,961
Interest Accrued 19,041
Owing to Company Funds 300
Total Liabilities, Guaranteed Funds $ 2,214,625
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 102,218
Summary
Company Funds $ 1,777,925
Guaranteed Funds 2,214,625
Estates, Trusts and Agency Funds 102,218
$ 4,094,768
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 51,758
Collateral Loans 1,592
Bonds and Debentures 43,317
Bank Deposits 140
$ 96,807
Profit in Guaranteed Funds 33,963
Fees and Commissions Earned on Estates, Trusts and Agencies 978
Gross Profit on Sale of Securities, Real Estate, etc 19,375
All Other Income 5,162
Total $ 156,285
Trust Companies — Detailed Reports 85
DISTRICT TRUST COMPANY (Concl'd)
Expenditure
Interest Incurred During the Year $ 1,961
Taxes, Licenses and Fees (Excluding Income Tax and Tax on Real Estate) 3,445
Commissions on Loans 15,196
All Other Expenses Incurred:
Advertising $ 9,467
Audit Fees 1,800
Legal Fees 1,343
Maintenance of Office Premises 2,743
Postage, Telegrams, Telephones and Express 3,176
Printing and Stationery 14,170
Rents 6,575
Salaries 59,605
Travelling Expenses 2,489
Miscellaneous 19,637
$ 121,005
Gross Loss on Sale of Securities and Real Estate 12,191
Provision for Depreciation 6,611
Net Loss Transferred to Profit and Loss Account — 4,124
Total Expenditure $ 160,409
$ 156,285
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year — Deficit $ — 8,796
Add:
Amount Transferred from Revenue Account — (Loss) 4,124
Balance at October 31, 1965 — Deficit $ —12,920
MISCELLANEOUS
The officers and employees of the Company are covered by a blanket bond for $100,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed funds — $12,466.
CONSTATING INSTRUMENTS
Jan. 23, 1964 — Incorporated under The Loan and Trust Corporations Act (Ontario).
86
Annual Report —
Registrar of Loan and Trust Corporations
DOMINION TRUST COMPANY
Head Office, Sudbury, Out.
Officers
President, P. A. Silverman; General Manager, G. Macpherson; Secretary, G. F. Deeth.
Directors
P. A. Silverman; J. R. Meakes; D. P. Best; E. L. Healy; C. Rosen.
Auditors
Clarkson, Gordon & Co.
Commenced Business in Ontario September 29, 1964.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 500,000. Par Value — $10.
Amount subscribed and paid in — 51,600 shares $516,000
BALANCE SHEET AS AT OCTOBER 31, 1965
Assets
(at Book Value)
Company Funds
Office Premises $ 4,592
Mortgage Loans on Real Estate:
First Mortgages $ 85,518
Interest Due and Accrued 422
85,940
Bonds and Debentures $ 360,272
Interest Accrued 3,972
364,244
Stocks 103,300
Cash on Deposit — Chartered Banks in Canada $ 16,751
— Elsewhere Ill
16,862
Total Assets, Company Funds $ 574,938
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 2,390
Other Assets 25,000
Total Assets, Estates, Trusts and Agency Funds $ 27,390
Liabilities
Company Funds
Taxes Other than on Real Estate $ 1,100
Paid in Capital 516,000
Balance in Profit and Loss Account 57,838
Total Liabilities, Company Funds $ 574,938
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 27,390
Summary
Company Funds $ 574,938
Estates, Trusts and Agency Funds 27,390
$ 602,328
Trust Companies — Detailed Reports 87
DOMINION TRUST COMPANY (Concl'd)
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 5,749
Bonds and Debentures 16,358
Stocks 1,838
Bank Deposits 6,353
$ 30,298
Gross Profit on Sale of Securities, Real Estate, etc 2,746
All Other Income 95
Total $ 33,139
Expenditure
Interest Incurred During the Year $ 191
Taxes, Licenses and Fees (Excluding Income Tax and Tax on Real Estate) 620
All Other Expenses Incurred:
Audit Fees $ 626
Legal Fees 165
Maintenance of Office Premises 62
Postage, Telegrams, Telephones and Express 1,669
Printing and Stationery 2,611
Rents 5,503
Salaries 15,416
Travelling Expenses 432
Miscellaneous 1,254
27,738
Provision for Depreciation 1,148
Total Expenditure $ 29,697
Net Profit Transferred to Profit and Loss Account 3,442
$ 33,139
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 74,396
Add:
Amount Transferred from Revenue Account 3,442
$ 77,838
Deduct:
Amount Transferred to Investment Reserves 20,000
Balance at October 31, 1965 $ 57,838
CONSTATING INSTRUMENTS
July 23, 1964 — Incorporated under The Loan and Trust Corporations Act (Ontario).
88
Annual Report — Registrar of Loan and Trust Corporations
THE EASTERN & CHARTERED TRUST COMPANY
Head Office, Toronto, Out
Officers
President and General Manager, H. E. Langford; Secretary, H. G. Soward.
Directors
W. J. Borrie; T. A. Boyles; A. K. Cameron; E. R. E. Carter; G. S. Cowan; T. A. Crerar;
W. A. Curry; C. M. P. Fisher; S. L. Fountain: A. S. Fraser; J. J. Gourd; G. B. Isnor; R. H.
Jenkins; R. A. Jodrey; D. McInnes; A. M. MacKay; J. C. MacKeen; J. MacNeil; S. C. Oland;
W. W. Smith; J. W. Speirs; N. R. Whittal; C. N. Wilson; K. A. Wilson; H. E. Langford;
C. G. Greenshields; J. M. Macintosh; J. B. Aird; S. G. Bennett; S. M. Blair; J. R. Bradfield;
C. F. W. Burns; J. M. R. Corbet; E. F. Crease; G. E. Ellsworth; L. P. Gelinas; J. D. Hayes;
G. L. Holmes; H. R. Jackman; O. L. Jones; E. D. Loughney; D. Lowson; J. K. MacKay; M. A.
Metcalf; N. J. McLean; J. J. Robinette; D. P. Rogers; J. A. Scythes; W. D. Smith; M. I.
Zive; J. H. M. Jones.
Auditors
Peat, Marwick, Mitchell & Co.
Branch Offices
Halifax, Calgary, Charlottetown, Lunenberg, Moncton, Montreal, New Glasgow, Saint John,
St. John's, Toronto, Vancouver, Winnipeg, Kamloops, Sydney, Fredericton, Westmount, Hamilton,
Ottawa, Saskatoon, Edmonton, Richmond.
Commenced Business in Ontario 1963.
Capital Stock
Authorized Amount— $13,000,000. No. of Shares— 1,300,000. Par Value— $10.
Amount subscribed and paid in — 591,427 shares $5,914,270
BALANCE SHEET AS AT DECEMBER 31, 1965
(at Book Value)
Company Funds
Office Premises $ 1,888,089
Real Estate held for Sale 255,087
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 3,614,137
Agreements of Sale 31,496
Interest Due and Accrued 20,023
3,665,656
Loans Secured by Bonds, Stocks and other Collateral:
Principal $ 5,821
Interest Accrued 351
6,172
Bonds and Debentures $ 6,596,216
Interest Accrued 109,475
6,705,691
Stocks $ 7,770,508
Accrued Dividends 56,322
7,826,830
Cash on Hand $ 5,760
Cash on Deposit — Chartered Banks in Canada 362,338
— Elsewhere 31,657
399,755
Advances to Estates, Trusts, etc., Under Administration 408,725
All other Assets 36,519
Total Assets, Company Funds $ 21,192,524
Trust Companies — Detailed Reports
89
THE EASTERN & CHARTERED TRUST COMPANY Cont'd)
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $203,789,591
Interest Due and Accrued 1,314,529
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 765,656
Interest Accrued 14,075
Bonds and Debentures $ 76,405,297
Interest Accrued 966,761
Cash on Hand $ 798,129
Cash on Deposit — Chartered Banks in Canada 1,361,838
$205,104,120
779,731
77,372,058
2,159,967
Total Assets, Guaranteed Funds $285,415,876
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 23,678,232
Other Assets 644,062,496
Total Assets, Estates, Trusts and Agency Funds $667,740,728
Liabilities
Company Funds
Taxes other than on Real Estate $ 117,803
Dividends Payable 206,926
Investment Reserves 3,688,296
All other Liabilities 83,189
$ 4,096,214
Paid-in Capital 5,914,270
Reserve Fund 10,576,102
Balance in Profit and Loss Account 605,938
Total Liabilities, Company Funds $ 21,192,524
Guaranteed Funds
Trust Deposits $116,370,087
Specific Guaranteed Funds $ 10,775,377
General Guaranteed Funds 157,232,100
168,007,477
Interest Accrued 1,038,312
Total Liabilities, Guaranteed Funds $285,415,876
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $667,332,003
Owing to Company Funds 408,725
Total Liabilities, Estates, Trusts and Agency Funds $667,740,728
Summary
Company Funds $ 21,192,524
Guaranteed Funds 285,415,876
Estates, Trusts and Agency Funds 667,740,728
$974,349,128
90
Annual Report
— Registrar of Loan and Trust Corporations
THE EASTERN & CHARTERED TRUST COMPANY Cont'd)
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 62,236
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 232,116
Collateral Loans 4,534
Bonds and Debentures 454,479
Stocks 312,283
Other Assets 10,521
1,013,933
Profit in Guaranteed Funds 4,411,097
Fees and Commissions Earned on Estates, Trusts and Agencies 4,314,590
Gross Profit on Sale of Securities, Real Estate, etc 79,638
Amount by which Ledger Values of Assets were written up 42,085
Amount Transferred from Investment Reserves 176,132
All Other Income 98,595
Total $ 10,198,306
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 111,908
Commission on Loans 292,402
All Other Expenses Incurred:
Advertising $ 372,915
Audit Fees 32,775
Directors' Fees 80,941
Furniture and Fixtures 174,382
Legal Fees 22,633
Maintenance of Office Premises 324,217
Postage, Telegrams, Telephones and Express 170,710
Printing and Stationery 166,029
Rents 677,681
Salaries 3,931,583
Staff Pension and Group Insurance 139,985
Travelling Expenses 100,925
Miscellaneous 649,991
6,844,767
Gross Loss on Sale of Securities and Real Estate 16,429
Provision for Depreciation 96,194
Amount by which Ledger Values of Assets were written down 187,280
Total Expenditure Excluding Income Taxes $ 7,548,980
Provision for Income Taxes 772,300
Net Profit Transferred to Profit and Loss Account 1,877,026
$ 10,198,306
PROFIT AND LOSS ACCOUNT
Balance brought forward from previous year $ 617,514
Add:
Amount transferred from Revenue Account 1,877,026
Premium on Capital Stock sold during year 14,640
$ 2,509,180
Deduct:
Dividends to Shareholders declared during year 827,602
Amount transferred to General Reserve 14,640
Amount transferred to Mortgage Reserve 861,000
Amount transferred to Investments Reserve 200,000
Balance at December 31, 1965 $ 605,938
Trust Companies — Detailed Reports
91
THE EASTERN & CHARTERED TRUST COMPANY (Concl'd)
MISCELLANEOUS
Dividends and bonuses declared during the year — $ 1 .40 per share.
The officers and employees of the Company are covered by a blanket bond for $1,000,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed funds — $12,458,244.
CONSTATING INSTRUMENTS
Amalgamation of Eastern Trust Co. and Chartered Trust Co. Order-in-Council TC. 1963 —
1729 November 26, 1963.
By Order-in-Council 3880/63 dated 12th December, 1963, assent was given by the Lieutenant
Governor of Ontario to an agreement amalgamating The Eastern Trust Company and Chartered
Trust Company.
92
Annual Report —
Registrar of Loan and Trust Corporations
GENERAL TRUST OF CANADA
Head Office, Montreal, Que.
Officers
President, M. Faribault; General Manager, H. N. Guilbault; Secretary, Pierre Favreau.
Directors
M. Faribault; L. J. A. Amyot; E. Corbeil; A. Cousineau; J. L. Demers; J. M.
Dessureault; G. T. Donohue; G. G. Ryan; F. Simard; B. Beauchemin; J. Raymond; G. Elie;
W. Bherer; P. Desruisseaux; B. Benoit; M. Chartre; J. L. Levesque; J. P. W. Ostiguy; L.
Masse.
Auditors
Samson, Belair, Cote, Lacroix et Associes.
Branch Offices
Quebec, Ottawa, Trois Rivieres, Hull, Rimouski.
Commenced Business in Ontario, 1951.
Capital Stock
Authorized Amount — $6,005,000. No. of Shares — 600,000 Preferred. Par Value — $10.
1,000 Common Par Value — $5.
Amount subscribed and paid in— 300,000 Preferred; 1,000 Common shares $3,005,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Office Premises $ 795,414
Furniture, Fixtures and Leasehold Improvements 436,284
Bonds and Debentures $ 290,751
Interest Accrued 3,374
Stocks $ 1,493,337
Accrued Dividends 1,610
294,125
1,494,947
Cash on Hand $ 1,128
Cash on Deposit — Chartered Banks in Canada 73,672
74,800
Owing from Guaranteed Funds 488,407
Advances to Estates, Trusts, etc., Under Administration 3,066,177
All other Assets 267,598
Total Assets, Company Funds $ 6,917,752
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 23,357,875
Interest Due and Accrued 327,752
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 6,707,102
Interest Accrued 27,396
Bonds and Debentures $ 43,078,479
Interest Accrued 607,275
Cash on Hand $ 32,448
Cash on Deposit — Chartered Banks in Canada 805,509
$ 23,685,627
6,734,498
43,685,754
837,957
Total Assets, Guaranteed Funds
$ 74,943,836
Trust Companies — Detailed Reports 93
GENERAL TRUST OF CANADA (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 3,239,654
Other Assets 365,877,223
Total Assets, Estates, Trusts and Agency Funds $369,1 16,877
Liabilities
Company Funds
Taxes other than on Real Estate $ 147,736
Dividends Payable 75,000
All other Liabilities 65,508
$ 288,244
Paid-in Capital 3,005,000
Reserve Fund 3,000,000
Balance in Profit and Loss Account 624,508
Total Liabilities, Company Funds $ 6,917,752
Guaranteed Funds
Trust Deposits $ 11,778,626
Specific Guaranteed Funds 2,277,081
General Guaranteed Funds 59,951,456
Interest Accrued 448,266
Owing to Company Funds 488,407
Total Liabilities, Guaranteed Funds $ 74,943,836
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $366,050,700
Owing to Company Funds 3,066,177
Total Liabilities, Estates, Trusts and Agency Funds $369,116,877
Summary
Company Funds $ 6,917,752
Guaranteed Funds 74,943,836
Estates, Trusts and Agency Funds 369,116,877
$450,978,465
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Bonds and Debentures $ 20,566
Stocks 66,238
Bank Deposits 56,692
Other Assets 148,746
$ 292.242
Profit in Guaranteed Funds 82 1,756
Fees and Commissions Earned on Estates, Trusts and Agencies 1,816,879
Gross Profit on Sale of Securities, Real Estate, etc 12,100
All Other Income 35,885
Total
$ 2,978,862
94
Annual Report — Registrar of Loan and Trust Corporations
GENERAL TRUST OF CANADA (Concl'd)
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 21,506
All Other Expenses Incurred:
Advertising $ 112,539
Audit Fees 9,000
Directors' Fees 5,925
Furniture and Fixtures 9,457
Legal Fees 8,687
Maintenance of Office Premises 77,900
Postage, Telegrams, Telephones and Express 53,676
Printing and Stationery 66,322
Rents 56,273
Salaries 1,110,875
Staff Pension and Group Insurance 67,865
Travelling Expenses 44,370
Miscellaneous 167,718
1,790,607
Provision for Depreciation 70,214
Amount Transferred to Mortgage Reserve 85,000
Total Expenditure Excluding Income Taxes $ 1,967,327
Provision for Income Taxes 468,000
Net Profit Transferred to Profit and Loss Account 543,535
$ 2,978,862
PROFIT AND LOSS ACCOUNT
Balance brought forward from previous year $ 481,223
Add:
Amount transferred from Revenue Account 543,535
$ 1,024,758
Deduct:
Dividends to Shareholders declared during year 300,250
Amount transferred to Reserve Fund 100,000
Balance at December 31, 1965 $ 624,508
MISCELLANEOUS
Dividends and bonuses declared during the year — $ 1 .00 per share.
The officers and employees of the Company are covered by a blanket bond for $1,000,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed funds — $1 1,778,626.
The Company has a deposit with the Province of Ontario in the amount of $215,000.00.
CONSTATING INSTRUMENTS
Incorporated: Province of Quebec, charter May 29th, 1909. Amendments to charter, April 3,
1912, and March 5, 1928. Special Act of the Legislature of Ontario, 15 George VI, 1951. Registered
as a Trust Company in Ontario, June 25, 1951.
Trust Companies — Detailed Reports
95
GUARANTY TRUST COMPANY OF CANADA
Head Office, Toronto, Ont.
Officers
President and General Manager, A. B. Ramsay; Secretary, J. A. Thompson.
Directors
E. R. Angus; J. P. Bassel; R. R. Belanger; J. G. Bennett; J. W. Berry; M. J. Boylen;
J. B. Carswell; W. H. Furlong; W. B. Gunning; F. R. Joubin; R. W. Keeley; L. A. Landriau;
F. H. Leslie; A. J. Major; D. B. Mansur; G. M. Miller; D. W. Naylor; H. J. O'Connell;
E. M. Proctor; A. B. Ramsay; S. B. Roman; J. B. Sangster; F. T. Sherk; W. F. Spry; E. F.
Willis; R. M. Willmot; J. P. Manley; R. F. Wilson; E. T. Berry.
Auditors
Ernst and Ernst.
Branch Offices
Calgary, Edmonton, Fort William, Hull, Montreal, Niagara Falls, Ottawa, Regina, Sault Ste.
Marie, Sudbury, Windsor, Vancouver, Winnipeg, Don Mills, Hanover, North Bay, Welland, Belle-
ville, Cornwall, Leamington, Oshawa, Simcoe, Moose Jaw, Pembroke, Peterborough, Port Arthur,
Richmond Hill, Saskatoon, Toronto, St. Catharines.
Commenced Business in Ontario, 1926.
Capital Stock
Authorized Amount— $10,000,000. No. Shares— 5,000,000. Par Value— $2.
Amount subscribed and paid in — 3,500,000 shares $7,000,000
BALANCE SHEET AS AT DECEMBER 31, 1965
(at Book Value)
Company Funds
Office Premises $ 3,899,889
Furniture, Fixtures and Leasehold Improvements 351,558
Bonds and Debentures $ 18,229,103
Interest Accrued 123,405
18,352,508
Stocks 2,749,500
Cash on Hand $ 204,600
Cash on Deposit — Chartered Banks in Canada 2,290,988
2,495,588
Advances to Estates, Trusts, etc. Under Administration 34,670
All other Assets 22,030
Total Assets, Company Funds $ 27,905,743
Guaranteed Funds
Mortgage Loans on Real Estate :
First Mortgages $243,374,099
Interest Due and Accrued 1,349,144
$244,723,243
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 2,362,378
Interest Accrued 23,127
2,385,505
Bonds and Debentures $114,008,889
Interest Accrued 1,389,095
115,397,984
Cash on Hand $ 1,459,533
Cash on Deposit — Chartered Banks in Canada 1,411,246
—Elsewhere 199,531
3,070,310
Total Assets, Guaranteed Funds
$365,577,042
96
Annual Report —
Registrar of Loan and Trust Corporations
GUARANTY TRUST COMPANY OF CANADA (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 6,619,520
Other Assets 248,346,753
Total Assets, Estates, Trusts and Agency Funds $254,966,273
Liabilities
Company Funds
Taxes Other than on Real Estate $ 849,689
Dividends Payable 297,500
Investment Reserves 1,735,623
All Other Liabilities 21,592
$ 2 904,404
Paid in Capital 7,000,000
Reserve Fund 17,000,000
Balance in Profit and Loss Account 1,001,339
Total Liabilities, Company Funds $ 27,905,743
Guaranteed Funds
Trust Deposits $180,189,041
General Guaranteed Funds 1 82,924, 1 9 1
Interest Accrued 2,463,810
Total Liabilities, Guaranteed Funds $365,577,042
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $254,931,603
Owing to Company Funds 34,670
Total Liabilities, Estates, Trusts and Agency Funds $254,966,273
Summary
Company Funds $ 27,905,743
Guaranteed Funds 365,577,042
Estates, Trusts and Agency Funds 254,966,273
$648,449,058
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 116,791
Interest and Dividends Earned on:
Bonds and Debentures $ 985,761
Stocks 93,214
Bank Deposits 37,388
Other Assets 15,540
1,131,903
Profit in Guaranteed Funds 5,418,210
Fees and Commissions Earned on Estates, Trusts and Agencies 2,474,636
Gross Profit on Sale of Securities, Real Estate, etc 69,264
All Other Income 37,930
Total $ 9,248,734
Trust Companies — Detailed Reports 97
GUARANTY TRUST COMPANY OF CANADA (Cont'd)
Expenditure
Interest Incurred During the Year $ 67,222
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) 74,755
Commission on Loans 19,548
All Other Expenses Incurred:
Advertising $ 286,050
Audit Fees 16,500
Directors' Fees 43,450
Furniture and Fixtures 57,487
Legal Fees 24,243
Maintenance of Office Premises 51,163
Postage, Telegrams, Telephones and Express 105,531
Printing and Stationery 188,807
Rents 405,483
Salaries 2,652,959
Staff Pension and Group Insurance 100,260
Travelling Expenses 65,563
Miscellaneous 304,364
4,301,860
Gross Loss on Sale of Securities and Real Estate 53,839
Provision for Depreciation 318,597
Amount Transferred to Investment Reserves 15,425
Total Expenditure Excluding Income Taxes $ 4,851,246
Provision for Income Taxes 2,023,000
Net Profit Transferred to Profit and Loss Account 2,374,488
$ 9,248,734
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 816,851
Add:
Amount Transferred from Revenue Account 2,374,488
$ 3,191,339
Deduct:
Dividends to Shareholders Declared During Year 1,190,000
Amount Transferred to Reserve Fund 1,000,000
Balance at December 31, 1965 $ 1,001,339
MISCELLANEOUS
Dividends and bonuses declared during the year — 34c per share.
The officers and employees of the Company are covered by a brokers* blanket bond for $3,000,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed funds — $18,681,189.
CONSTATING INSTRUMENTS
Incorporated on June 12, 1925, by Special Act of Parliament of Dominion of Canada;
registered as a Trust Company in Ontario, May 13, 1926.
Fidelity Trusts Company of Ontario. By Order-in-Council dated November 29, 1940, the
Lieutenant Governor in Council formally approved an agreement dated October 8, 1940, by which
"Guaranty Trust Company of Canada" purchased certain assets and assumed the liabilities of
the "Fidelity Trusts Company of Ontario". The "Fidelity Trusts Company of Ontario" ceased
registry June 30, 1941.
Niagara Falls Loan and Savings Company, Guaranty Trusts Company of Canada. An agree-
ment between these companies dated December 20, 1943, ratified by shareholders of both
companies on December 29 and 30, 1943, respectively, whereby the assets and liabilities of the
loan corporation were taken over and assumed by the Trust Company as of January 13, 1944, was
approved by an Order-in-Council dated January 13, 1944.
98
Annual Report —
Registrar of Loan and Trust Corporations
GUARANTY TRUST COMPANY OF CANADA (Concl'd)
Capital Trust Corporation Limited; Guaranty Trust Company of Canada. An agreement
between these companies dated March 6, 1947, whereby the assets and liabilities of Capital
Trust Corporation Limited were taken over and assumed by Guaranty Trust Company of
Canada, was approved, ratified and confirmed by the shareholders of both companies on April 30,
1947, and was approved by Order-in-Council on June 12, 1947.
On July 13, 1961, by Special Act, Chapter 9-10 Eliz. II, the Company was authorized to
increase its authorized capital stock from 500,000 shares of $10 each— $5,000,000 to 1,000,000
shares of $10 each— $10,000,000.
Prudential Trust Company Limited; Guaranty Trust Company Limited. An agreement
between these companies dated December 2, 1963, whereby the assets and liabilities of Prudential
Trust Company Limited were taken over and assumed by Guaranty Trust Company of Canada,
was approved, ratified and confirmed by the shareholders of both companies on December 2,
1963 and December 3, 1963 respectively, and was approved by Order-in-Council on February 13,
1964.
Trust Companies — Detailed Reports
99
HALTON & PEEL TRUST & SAVINGS COMPANY
Head Office, Oakville, Out.
Officers
President, O. E. Manning; General Manager, J. S. Beatty; Secretary, D. S. McLaughlin.
Directors
O. E. Manning; C. A. Martin; W. J. Beatty; A. McMillan; E. D. Goulding; E. Barring-
ham; E. M. Milne; P. A. Fisher; J. Pengilley; J. R. Barber; A. G. Clarkson; J. M. Fraser;
G. H. Fort; E. Slager; J. A. Carroll.
Auditors
C. K. MacGillivray, F.C.A., and P. T. Hunt, CA
Branch Offices
Oakville, Brampton, Burlington, Simcoe, Cooksville, Delhi, Milton.
Commenced Business in Ontario, 1955.
Capital Stock
Authorized Amount— $2,000,000. No. of Shares — 400,000. Par Value— $5.
Amount subscribed and paid in — 325,669 shares $1,628,345
BALANCE SHEET AS AT DECEMBER 31, 1965
(at Book Value)
Company Funds
Office Premises $ 629,357
Furniture, Fixtures and Leasehold Improvements 108,538
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 302,841
Interest Due and Accrued 16,382
319,223
Loans Secured by Bonds, Stocks and Other Collateral:
Bonds and Debentures $ 76,380
Interest Accrued 1,516
77,896
Stocks 1,373,024
Cash on Hand 179,359
Advances to Estates, Trust, etc. Under Administration 12,042
All Other Assets 5,067
Total Assets, Company Funds $ 2,704,506
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 40,883,226
Interest Due and Accrued 359,255
$ 41,242,481
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 310,569
Interest Accrued 6,375
316,944
Bonds and Debentures $ 5,475,878
Interest Accrued 89,375
5,565,253
Stocks 61,075
Cash on Hand $ 423,785
Cash on Deposit— Chartered Banks in Canada 565,462
—Elsewhere 108,405
1,097,652
Total Assets, Guaranteed Funds
$ 48,283,405
100
Annual Report
— Registrar of Loan and Trust Corporations
HALTON & PEEL TRUST & SAVINGS COMPANY (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 427,141
Other Assets 5,210,792
Total Assets, Estates, Trusts and Agency Funds $ 5,637,933
Liabilities
Company Funds
Taxes Other than on Real Estate $ 53,642
Dividends Payable 40,710
$ 94,352
Paid in Capital 1,628,345
Reserve Fund 950,000
Balance in Profit and Loss Account 31,809
Total Liabilities, Company Funds $ 2,704,506
Guaranteed Funds
Trust Deposits $ 16,989,259
General Guaranteed Funds 31,099,468
Specific Guaranteed Funds 190,056
Interest Accrued 4,622
Total Liabilities, Guaranteed Funds $ 48,283,405
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 5,625,891
Owing to Company Funds 12,042
Total Liabilities, Estates, Trusts and Agency Funds $ 5,637,933
Summary
Company Funds $ 2,704,506
Guaranteed Funds 48,283,405
Estates, Trusts and Agency Funds 5,637,933
$ 56,625,844
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 31,067
Bonds and Debentures 6,725
Stocks 47,349
$ 85,141
Profit in Guaranteed Funds 1,009,609
Fees and Commissions Earned on Estates, Trusts and Agencies 31,417
Gross Profit on Sale of Securities, Real Estate, etc 61,458
All Other Income 25,597
Total $ 1,213,222
Trust Companies — Detailed Reports 101
HALTON & PEEL TRUST & SAVINGS COMPANY (Concl'd)
Expenditure
Interest Incurred During the Year $ 438
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) 9,364
Cc*rnrnission on Loans 38,103
All Other Expenses Incurred:
Advertising $ 49,367
Audit Fees 4,250
Directors' Fees 4,780
Legal Fees 767
Maintenance of Office Premises 19,479
Postage, Telegrams, Telephones and Express 19,297
Printing and Stationery 16,936
Rents , 21,402
Salaries 313,773
Staff Pension and Group Insurance 9,479
Travelling Expenses 10,712
Miscellaneous 80,190
550,432
Provision for Depreciation 40,162
Amount Transferred to Investment Reserves 207,900
Total Expenditure Excluding Income Taxes $ 846,399
Provision for Income Taxes 123,000
Net Profit Transferred to Profit and Loss Account 243,823
$ 1,213,222
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 70,784
Add:
Amount Transferred from Revenue Account 243,823
Premium on Capital Stock 5,538
$ 320,145
Deduct:
Dividends to Shareholders Declared During Year 138,336
Amount Transferred to Reserve 150,000
Balance at December 31, 1965 $ 31,809
MISCELLANEOUS
Dividends and bonuses declared during the year — 42.5c. per share.
The officers and employees of the Company are covered by a bankers blanket bond for $250,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed fund — $798,535.
CONSTATING INSTRUMENTS
The Halton & Peel Trust & Savings Company was incorporated under The Loan and Trust
Corporations Act by Letters Patent, dated January 20, 1955, with Head Office in the Town of
Oakville and registered as a Trust Company on February 25, 1955.
By Order-in-Council O.C. 2421/60, permission to purchase property in Town of Brampton,
larger than present requirements.
By Order-in-Council (Ontario) O.C.-781/64 dated March 5, 1964 the Company was permitted
to subdivide each share of the Company having a par value of $10.00 into two shares each having
a par value of $5.00.
102
Annual Report — Registrar of Loan and Trust Corporations
HAMILTON TRUST AND SAVINGS CORPORATION
Head Office, Hamilton, Ont.
Officers
President, H. Soule; Superintendent, D. C. Field; Secretary, E. L. Fairclough.
Directors
M. G. Bulger, W. E. Brunning; J. R. Fischer; N. G. James; G. Miller; C. Read;
P. Rosenblatt; W. C. Schwenger; H. Soule; W. P. Thompson; R. G. Groom; F. P. Goldblatt;
T. H. Baker; G. C. Knowles.
Auditors
Owen, Pr ingle & Co.
Branch Offices
Hamilton, Tillsonburg.
Commenced Business in Ontario, September 3, 1963.
Capital Stock
Authorized Amount— $2,500,000. No. of Shares— 250,000. Par Value — $10.
Amount subscribed and paid in — 215,960 shares $1,718,600
BALANCE SHEET AS AT OCTOBER 31, 1965
(at Book Value)
Company Funds
Office Premises $ 586,747
Furniture, Fittings and Leasehold Improvements 167,135
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 569,279
Interest Due and Accrued 7,017
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 104,484
Interest Accrued 1,718
576,296
106,202
Bonds and Debentures $ 207,903
Interest Accrued 2,159
210,062
Stocks 6,270
Cash on Hand $ 14,125
Cash on Deposit — Chartered Banks in Canada 7,746
21,871
Owing from Guaranteed Funds 245,709
Advances to Estates, Trusts, etc. Under Administration 20,457
All Other Assets 1,555
Total Assets, Company Funds $ 1,942,304
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 8,698,036
Interest Due and Accrued 42,333
$ 8,740,369
Loans Secured by Bonds, Stocks and Other Collateral 45,000
Bonds and Debentures $ 1,631,964
Interest Accrued 19,935
Cash on Hand $ 207,708
Cash on Deposit — Chartered Banks in Canada 365,734
—Elsewhere 6,412
1,651,899
579,854
Total Assets, Guaranteed Funds
$ 11,017,122
Trust Companies — Detailed Reports 103
HAMILTON TRUST AND SAVINGS CORPORATION (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 2,458
Other Assets 3,364,533
Total Assets, Estates, Trusts and Agency Funds $ 3,366,991
Liabilities
Company Funds
Borrowed Money (Secured) $ 324,520
All Other Liabilities 1,841
$ 326,361
Paid in Capital 1,718,600
Balance in Profit and Loss Account — Deficit — 102,657
Total Liabilities, Company Funds $ 1,942,304
Guaranteed Funds
Trust Deposits $ 6,033,328
General Guaranteed Funds 4,665,860
Interest Accrued 54,228
Owing to Estates, Trusts and Agencies 17,997
Owing to Company Funds 245,709
Total Liabilities, Guaranteed Funds $ 11,017,122
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 3,346,534
Owing to Company Funds 20,457
Total Liabilities, Estates, Trusts and Agency Funds $ 3,366,991
Summary
Company Funds $ 1,942,304
Guaranteed Funds 11,017,122
Estates, Trusts and Agency Funds 3,366,991
$ 16,326,417
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ — 2,089
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 64,016
Collateral Loans 5,566
Bonds and Debentures 1,658
Stocks 40
£ 280
Profit in Guaranteed Funds 197^03 3
Fees and Commissions Earned on Estates, Trusts and Agencies 19,350
Gross Profit on Sale of Securities, Real Estate, etc 605
All Other Income 38,383
Total $ 324,562
104
Annual Report — Registrar of Loan and Trust Corporations
HAMILTON TRUST AND SAVINGS CORPORATION (Concl'd)
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 9,526
Commission on Loans 31,560
All Other Expenses Incurred:
Advertising $ 17,032
Audit Fees 5,000
Legal Fees 96
Maintenance of Office Premises 4,794
Postage, Telegrams, Telephones and Express 12,005
Printing and Stationery 15,564
Rents 57,540
Salaries 191,403
Staff Pension and Group Insurance 3,660
Travelling Expenses 9,089
Miscellaneous 48,547
364,730
Gross Loss on Sale of Securities and Real Estate 227
Provision for Depreciation 48,074
Amount Transferred to Investment Reserves 5,000
Total Expenditure Excluding Income Taxes $ 459,117
Net Loss Transferred to Profit and Loss Account — 134,555
$ 324,562
PROFIT AND LOSS ACCOUNT
Balance brought forward from previous year $ 31,898
Deduct:
Loss transferred from Revenue Account — 134,555
Balance at October 31, 1965 — Deficit $ —102,657
MISCELLANEOUS
The officers and employees of the Company are covered by a blanket bond for $250,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed fund — $17,997.
CONSTATING INSTRUMENTS
Incorporated July 4, 1963.
Licensed as a Trust Company to operate in Province of Ontario — August 14, 1963.
By Order-in-Council O.C. — 3804/63, permission to construct a building in the City of
Hamilton, larger than present requirements.
Trust Companies — Detailed Reports
105
THE INDUSTRIAL MORTGAGE AND TRUST COMPANY
Head Office, Sarnia, Ont.
Officers
President, W. L. Millman; Secretary, I. S. Fraser.
Directors
W. D. Mackenzie; J. H. Moffatt; G. W. Parker; R. A. Wilson; C. M. Carruthers; H.
Corey; G. A. Hogan; G. R. Scarrow; S. Wilk; W. L. Millman; R. McCubbin.
Auditors
Campbell, Lawless and Punchard.
Branch Offices
Forest, Petrolia.
Commenced Business in Ontario, 1889.
Capital Stock
Authorized Amount— $1,000,000. No. of Shares— 200,000. Par Value— $5.
Amount subscribed and paid in — 152,216 shares $761,080
BALANCE SHEET AS AT OCTOBER 31, 1965
Assets
(At Book Value)
Company Funds
Office Premises $ 283,871
Furniture, Fixtures and Leasehold Improvements 50,099
Mortgage Loans on Real Estate and Agreements of Sale :
First Mortgages $ 348,924
Agreements of Sale 65,855
. 414,779
Loans Secured by Bonds, Stocks and other Collateral 478,360
Bonds and Debentures $ 325,296
Interest Accrued 2,947
328,243
Stocks 99,409
Cash on Hand $ 13,641
Cash on Deposit — Chartered Banks in Canada 127,601
■ 141,242
Advances to Estates, Trusts, etc. Under Administration 43,244
All other Assets 38,467
Total Assets, Company Funds $ 1,877,714
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 20,570,646
Bonds and Debentures $ 5,714,933
Interest Accrued 62,001
■ 5,776,934
Stocks 211,531
Cash on Hand $ 477,199
Cash on Deposit — Chartered Banks in Canada 241,200
718,399
Total Assets, Guaranteed Funds
$ 27,277,510
106
Annual Report
— Registrar of Loan and Trust \ Corporations
THE INDUSTRIAL MORTGAGE AND TRUST COMPANY (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 339,795
Other Assets 7,642,399
Total Assets, Estates, Trusts and Agency Funds $ 7,982,194
Liabilities
Company Funds
Taxes other than on Real Estate $ 35,220
Dividends Payable 60,886
All other Liabilities 13,287
$ 109,393
Paid in Capital 761,080
Reserve Fund 840,000
Balance in Profit and Loss Account 167,241
Total Liabilities, Company Funds $ 1,877,714
Guaranteed Funds
Trust Deposits $ 9,838,039
General Guaranteed Funds 17,043,990
Interest Accrued 395,481
Total Liabilities, Guaranteed Funds $ 27,277,510
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 7,938,950
Owing to Company Funds 43,244
Total Liabilities, Estates, Trusts and Agency Funds $ 7,982,194
Summary
Company Funds $ 1,877,714
Guaranteed Funds 27,277,510
Estates, Trusts and Agency Funds 7,982,194
$ 37,137,418
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 39,220
Collateral Loans 23,443
Bonds and Debentures 12,423
Stocks 5,360
Other Assets 420
$ 80,866
Profit in Guaranteed Funds 587,890
Fees and Commissions Earned on Estates, Trusts and Agencies 43,031
Gross Profit on Sale of Securities, Real Estate, etc 24,766
All Other Income 9,340
Total $ 745,893
Trust Companies — Detailed Reports
107
THE INDUSTRIAL MORTGAGE AND TRUST COMPANY (Concl'd)
Expenditure
Interest Incurred during the year $ 6,571
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) 5,054
Commission on Loans 53,248
All Other Expenses Incurred:
Advertising $ 15,135
Audit Fees 6,600
Directors' Fees 17,000
Legal Fees 1,820
Maintenance of Office Premises 988
Postage, Telegrams, Telephones and Express 10,749
Printing and Stationery 20,999
Salaries 182,380
Staff Pension and Group Insurance 14,530
Travelling Expenses 9,405
Miscellaneous 68,566
348,172
Provision for Depreciation 23,579
Amount Transferred to Investment Reserves 68,000
Total Expenditure Excluding Income Taxes $ 504,624
Provision for Income Taxes 104,014
Net Profit Transferred to Profit and Loss Account 137,255
$ 745,893
PROFIT AND LOSS ACCOUNT
Balance brought forward from previous year $ 147,356
Add:
Amount transferred from Revenue Account 137,255
Premium on Capital Stock sold during year 201,728
$ 486,339
Deduct:
Dividends to Shareholders declared during year 1 14,098
Amount transferred to Reserve Fund 205,000
Balance at October 31, 1965 $ 167,241
MISCELLANEOUS
Dividends and bonuses declared during the year — 75c per share.
The officers and employees of the Company are covered by a blanket bond for $500,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed fund — $209,720.
CONSTATING INSTRUMENTS
Incorporated under The Building Societies Act, R.S.O. 1887, c. 169, by declaration filed with
the Clerk of the Peace for the County of Lamb ton, August 20, 1889.
By Order-in-Council approved March 6, 1907, pursuant to the provisions of Section 4 (6),
cap. 27, 63 Victoria, the authorized capital stock of the Company was increased from $500,000 to
$1,000,000.
By 18 George V, chapter 112, the Company was given Trust Company powers and its name
changed to The Industrial Mortgage and Trust Company.
By 24 George V, chapter 79, the Company assumed the liabilities and purchased under agree-
ment the business, assets, etc., of The East Lambton Farmers' Loan and Savings Company.
The lending and borrowing powers are governed by The Loan and Trust Corporations Act.
By Order-in-Council approved April 22, 1936, the Lieutenant Governor assented to The
Industrial Mortgage and Trust Company assuming the liabilities and purchasing under agreement
dated December 24, 1935, the business, assets, etc., of the Crown Savings and Loan Company.
By by-law enacted by the directors and confirmed by the shareholders in the Annual General
Meeting, February 13th, 1962, the financial year end of the Company was changed to October 31st
in each year.
By Order-in-Council approved January 23, 1964, the Company was authorized to split its
stock, ten for one, thereby creating 200,000 shares with a par value of $5.00 each.
108
Annual Report — Registrar of Loan and Trust Corporations
INTERNATIONAL TRUST COMPANY
Head Office, Montreal, Que.
Officers
President, R. L. Hoguet, Jr.; General Manager, E. J. McConnell; Secretary, G. S. Lynch.
Directors
H. C. Andreae; R. L. Hoguet; R. P. MacFadden; J. S. Rockefeller; W. S. Robertson;
S. B. Clifford; G. S. Lynch; H. W. Tripp.
Auditors
Peat, Marwick, Mitchell & Co.
Branch Office
Toronto.
Commenced Business in Ontario, 1961.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 50,000. Par Value— $100.
Amount subscribed and paid in — 20,000 shares $2,000,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(At Book Value)
Company Funds
Furniture, Fixtures and Leasehold Improvements $ 38,019
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 1 1 0, 1 1 5
Interest Due and Accrued 396
110,511
Bonds and Debentures $ 590,000
Interest Accrued 10
590,010
Owing from Guaranteed Funds 1,200,899
All other Assets 397,979
Total Assets, Company Funds $ 2,337,418
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 6,881,723
Second and Subsequent Mortgages 155,000
Interest Due and Accrued 124,314
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 501,158
Interest Accrued 8,291
$ 7,161,037
509,449
Bonds and Debentures $ 8,997,775
Interest Accrued 100,420
9,098,195
Stocks 290,438
Cash on Deposit — Chartered Banks in Canada 3,945,652
Total Assets, Guaranteed Funds $ 21,004,771
Trust Companies — Detailed Reports 109
INTERNATIONAL TRUST COMPANY (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 12,931
Other Assets 52,363
Total Assets, Estates, Trusts and Agency Funds $ 65,294
Liabilities
Company Funds
Borrowed Money (secured) $ 7,518
All other Liabilities 50,191
$ 57,709
Paid in Capital 2,000,000
Reserve Fund 500,000
Balance in Profit and Loss Account (Deficit) — 220,291
Total Liabilities, Company Funds $ 2,337,418
Guaranteed Funds
General Guaranteed Funds $ 19,554,472
Interest Accrued 249,400
Owing to Company Funds 1,200,899
Total Liabilities, Guaranteed Funds $ 21,004,771
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 65,294
Summary
Company Funds $ 2,337,418
Guaranteed Funds 21,004,771
Estates, Trusts and Agency Funds 65,294
$ 23,407,483
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 9,961
Collateral Loans 7,371
Bonds and Debentures 12,508
Bank Deposits 453
$ 30,293
Profit in Guaranteed Funds 94, 149
Fees and Commissions Earned on Estates, Trusts and Agencies 60,943
Total $ 185,385
110
Annual Report — Registrar of Loan and Trust Corporations
INTERNATIONAL TRUST COMPANY (Concl'd)
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 5,531
All Other Expenses Incurred:
Advertising $ 6,127
Audit Fees 3,661
Directors' Fees 16,982
Legal Fees 20,899
Maintenance of Office Premises 1,455
Postage, Telegrams, Telephones and Express 8,514
Printing and Stationery 12,103
Rents 14,481
Salaries 126,157
Staff Pension and Group Insurance 7,964
Travelling Expenses 22,974
Miscellaneous 13,062
254,379
Provision for Depreciation 9,699
Amount by which Ledger Values of Assets were written down 60,000
Total Expenditure $ 329,609
Net Loss Transferred to Profit and Loss Account — 144,224
$ 185,385
PROFIT AND LOSS ACCOUNT
Balance brought forward from previous year (Deficit) $ — 52,271
Add:
Loss transferred from Revenue Account — 144,224
Reduction in carrying value of Investment in Subsidiaries — 23,796
Balance at December 31, 1965 — Deficit $ —220,291
MISCELLANEOUS
All officers and employees of the Company are covered by a blanket bond for $1,000,000.
The Company has a deposit with the Province of Ontario in the amount of $50,000.
CONSTATING INSTRUMENTS
Incorporated by Letters Patent in the Province of Quebec on February 4, 1960, under The
Trust Companies Act, R.S.Q. 1941, as Mercantile Trust Company.
Registered as a Trust Company in Ontario on October 27, 1961.
Supplementary Letters Patent (Quebec) July 8, 1964, changing name of company to First
National City Trust Company of Canada and increasing authorized capital from 10,000 shares
of $100 each to 20,000 shares of $100 each.
Supplementary Letters Patent (Quebec) December 16, 1964, changing name of company
to International Trust Company.
Supplementary Letters Patent, August 11, 1965, increasing the authorized capital from 20,000
shares of $100 each to 50,000 shares of $100 each.
Trust Companies — Detailed Reports
111
INVESTORS TRUST COMPANY
Head Office, Winnipeg, Man.
Officers
President, T. O. Peterson; Secretary, A. H. Ross.
Directors
C. E. Atchison; H. W. Cooper; P. D. Curry; T. O. Peterson; J. T. Russell.
Auditors
Peat, Marwick, Mitchell & Co., and Deloitte, Plender, Haskins & Sells.
Branch Offices
Vancouver, Saskatoon, Regina, Winnipeg, Toronto, Montreal.
Commenced Business in Ontario, 1958.
Capital Stock
Authorized Amount— $3,000,000. No. of Shares— 30,000. Par Value — $100.
Amount subscribed and paid in— 10,800 shares $1,080,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 3,078,571
Interest Due and Accrued 14,191
3,092,762
Bonds and Debentures
Interest Accrued .
118,075
Cash on Hand
Cash on Deposit — Chartered Banks in Canada
403,730
All Other Assets 129,079
Total Assets, Company Funds $ 3,743,646
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 15,707,165
Interest Due and Accrued 85,902
Loans Secured by Bonds, Stocks and Other Collateral:
Bonds and Debentures $ 20,638,000
Interest Accrued 82,359
$
116,175
1,900
$
3,100
400,630
$ 15,793,067
20,720,359
Cash on Hand $ 34,674
Cash on Deposit — Chartered Banks in Canada 368,252
402,926
Other Assets 156,922
Total Assets, Guaranteed Funds $ 37,073,274
112
Annual Report — Registrar of Loan and Trust Corporations
INVESTORS TRUST COMPANY (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 1,566,888
Other Assets 138,636,912
Total Assets, Estates, Trusts and Agency Funds $140,203,800
Liabilities
Company Funds
Taxes Other than on Real Estate $ 52,000
Investment Reserves 50,600
All Other Liabilities 91,215
$ 193,815
Paid in Capital 1,080,000
Reserve Fund 2,020,000
Balance in Profit and Loss Account 449,831
Total Liabilities, Company Funds $ 3,743,646
Guaranteed Funds
Trust Deposits $ 1,858,893
General Guaranteed Funds 34,917,440
Interest Accrued 296,941
Total Liabilities, Guaranteed Funds $ 37,073,274
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $140,203,800
Summary
Company Funds $ 3,743,646
Guaranteed Funds 37,073,274
Estates, Trusts and Agency Funds 140,203,800
$181,020,720
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 204,348
Bonds and Debentures 6,103
$ 210,451
Profit in Guaranteed Funds 253,060
Fees and Commissions Earned on Estates, Trusts and Agencies 585,302
Total $ 1,048,813
Trust Companies — Detailed Reports 113
INVESTORS TRUST COMPANY (Concl'd)
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 5,147
All Other Expenses Incurred:
Advertising $ 34,411
Audit Fees 1,500
Directors' Fees 2,500
Furniture and Fixtures 15,530
Legal Fees 241
Maintenance of Office Premises 43,427
Postage, Telegrams, Telephones and Express 16,011
Printing and Stationery 19,817
Rents 47,424
Salaries 285,089
Staff Pension and Group Insurance 6,991
Travelling Expenses 20,742
Miscellaneous 201,795
695,478
Amount Transferred to Investment Reserves 25,000
Total Expenditure Excluding Income Taxes $ 725,625
Provision for Income Taxes 156,499
Net Profit Transferred to Profit and Loss Account 166,689
$ 1,048,813
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 275,896
Add:
Amount Transferred from Revenue Account 166,689
Decrease in Assets not Admitted 7,246
Balance at December 31, 1965 $ 449,831
MISCELLANEOUS
The officers and employees of the Company are covered by blanket bonds up to $1,000,000.
Amounts belonging to Estates, Trusts and Agency Funds held in guaranteed funds — $2,531,845.
CONSTATING INSTRUMENTS
The company was incorporated by a Special Act of the Parliament of Canada, dated
November 6, 1957, and given Royal Assent on December 5, 1957, being Chapter 41 of the Statutes
of Canada, 1957-58.
114
Annual Report — Registrar of Loan and Trust Corporations
KENT TRUST AND SAVINGS COMPANY
Head Office, Chatham, Ont.
Officers
President, J. D. Bradley; General Manager, C. B. Gladman; Secretary, H. J. O'Brien.
Directors
W. Benson; J. D. Bradley; A. R. Davidson; B. E. Easton; W. S. McKeough; R. G.
Parry; H. J. O'Brien; J. J. Wintermeyer; J. I. Kindl; A. E. LaPointe; D. E. Richardson;
C. H. Webber; J. C. Baillie; R. A. Herdoiza.
Auditors
Pearson, Edwards & Co.
Branch Office
Windsor.
Commenced Business in Ontario July 10, 1964.
Capital Stock
Authorized Amount— $3,000,000. No. of Shares— 300,000. Par Value $10.
Amount subscribed and paid in — 156,577 shares $1,452,470
BALANCE SHEET AS AT DECEMBER 31, 1965
(at Book Value)
Company Funds
Furniture, Fixtures and Leasehold Improvements $ 67,698
Mortgage Loans on Real Estate:
First Mortgages $ 715,513
Interest Due and Accrued 4,599
720,112
Loans Secured by Bonds, Stocks and Other Collateral 20,610
Bonds and Debentures $ 603,292
Interest Accrued 5,336
Cash on Hand $ 275
Cash on Deposit — Chartered Banks in Canada 75,597
—Elsewhere 10,828
608,628
86,700
Total Assets, Company Funds $ 1,503,748
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 1,116,763
Second and Subsequent Mortgages 19,544
Interest Due and Accrued 9,015
. $ 1,145,322
Loans Secured by Bonds, Stocks and Other Collateral 15,843
Bonds and Debentures $ 972,597
Interest Accrued 11,838
Cash on Hand $ 20,254
Cash on Deposit — Chartered Banks in Canada 57,811
Elsewhere 10,175
984,435
88,240
Total Assets, Guaranteed Funds
$ 2,233,840
Trust Companies — Detailed Reports
115
KENT TRUST AND SAVINGS COMPANY (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 3,871
Other Assets 251,185
Total Assets, Estates, Trusts and Agency Funds $ 255,056
Liabilities
Company Funds
Paid in Capital $ 1,452,470
Balance in Profit and Loss Account 51,278
Total Liabilities, Company Funds $ 1,503,748
Guaranteed Funds
Trust Deposits $ 1,414,553
General Guaranteed Funds 819,287
Total Liabilities, Guaranteed Funds $ 2,233,840
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 255,056
Summary
Company Funds $ 1,503,748
Guaranteed Funds 2,233,840
Estates, Trusts and Agency Funds 255,056
$ 3,992,644
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 360
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 36,519
Collateral Loans 1,119
Bonds and Debentures 14,849
52,487
Profit in Guaranteed Funds 25,639
Fees and Commissions Earned on Estates, Trusts and Agencies 7,629
Gross Profit on Sale of Securities, Real Estate, etc 603
All Other Income 7,878
Amount by which Ledger Values of Assets were written up 622
Total $ 95,218
116
Annual Report — Registrar of Loan and Trust Corporations
KENT TRUST AND SAVINGS COMPANY (Concl'd)
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 1,534
All Other Expenses Incurred:
Advertising $ 13,289
Audit Fees 1,575
Furniture and Fixtures 136
Legal Fees 1,167
Maintenance of Office Premises 5,550
Postage, Telegrams, Telephones and Express 4,297
Printing and Stationery 7,339
Rents 13,113
Salaries 65,535
Staff Pension and Group Insurance 473
Travelling Expenses 3,600
Miscellaneous 8,335
■ 124,409
Provision for Depreciation 8,222
Total Expenditure $ 134,165
Net Loss Transferred to Profit and Loss Account * — 38,947
$ 95,218
♦Before charging Organization Costs $33,034 (Charged in Profit and Loss Account).
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 9,360
Add:
Premium on Capital Stock sold during year 113,899
$ 123,259
Deduct:
Organization Costs 33,034
Amount Transferred from Revenue Account — (Loss) 38,947
Balance at December 31, 1965 $ 51,278
MISCELLANEOUS
The officers and employees of the Company are covered by a bankers' blanket bond for $50,000.
CONSTATING INSTRUMENTS
Incorporated December 12, 1963, by Letters Patent under the laws of the Province of Ontario.
Trust Companies — Detailed Reports
117
THE LAMBTON TRUST COMPANY LIMITED
Head Office, Sarnia, Ont.
Officers
President, J. A. Smith; General Manager, E. A. Pardee; Secretary, R. E. Dowswell.
Directors
J. A. Smith; G. C. Norsworthy; D. P. Jamieson; J. E. Coyne; F. A. Hyde; T. A. Kenny;
J. S. Mallon; W. G. Link.
Auditors
E. A. Jarrett, F.C.A. and D. C. Stewart, F.C.A.
Branch Offices
Wallaceburg, Toronto, Chatham, Sarnia.
Commenced Business in Ontario, 1928.
Capital Stock
Authorized Amount— $1,000,000. No. of Shares— 20,000. Par Value — $50.
Amount subscribed and paid in — 6,307 shares $315,350
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Mortgage Loans on Real Estate:
First Mortgages $ 353,689
Interest Due and Accrued 6,350
Bonds and Debentures $ 92,250
Interest Accrued 894
360,039
93,144
Cash on Deposit — Chartered Banks in Canada $ 6,682
—Elsewhere 31,960
38,642
All Other Assets 822
Total Assets, Company Funds $ 492,647
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 279,521
Other Assets 4,125,152
Total Assets, Estates, Trusts and Agency Funds $ 4,404,673
118
Annual Report — Registrar of Loan and Trust Corporations
THE LAMBTON TRUST COMPANY LIMITED (Cont'd)
Liabilities
Company Funds
Taxes Other than on Real Estate $ 10,514
Dividends Payable 25,228
All Other Liabilities 1,095
$ 36,837
Paid in Capital 315,350
Reserve Fund 75,000
Balance in Profit and Loss Account 65,460
Total Liabilities, Company Funds $ 492,647
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 4,404,673
Summary
Company Funds $ 492,647
Estates, Trusts and Agency Funds 4,404,673
$ 4,897,320
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 26,878
Bonds and Debentures 4,914
Bank Deposits 6,105
$ 37,897
Fees and Commissions Earned on Estates, Trusts and Agencies 36,608
Gross Profit on Sale of Securities, Real Estate, etc 901
Total $ 75,406
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 1,568
All Other Expenses Incurred:
Advertising $ 856
Audit Fees 1,000
Directors' Fees 645
Legal Fees 1,527
Maintenance of Office Premises 2,100
Postage, Telegrams, Telephones and Express 336
Printing and Stationery 432
Salaries 19,612
Staff Pension and Group Insurance 3,041
Travelling Expenses 140
Miscellaneous 370
30,059
Total Expenditure Excluding Income Taxes $ 31,627
Provision for Income Taxes 16,000
Net Profit Transferred to Profit and Loss Account 27,779
$ 75,406
Trust Companies — Detailed Reports
119
THE LAMBTON TRUST COMPANY LIMITED (Concl'd)
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 58,406
Add:
Amount Transferred from Revenue Account 27,779
Amount Transferred from Investment Reserve 9,000
Amount Transferred from Mortgage Reserve 16,000
$ 111,185
Deduct:
Dividends to Shareholders Declared During Year 45,725
Balance at December 31, 1965 $ 65,460
MISCELLANEOUS
Dividends and bonuses declared during the year — $3.25 per share.
All officers and employees of the Company are covered by a blanket bond for $500,000.
CONSTATING INSTRUMENTS
Incorporated on April 26, 1928, by Letters Patent of Ontario, issued under The Loan and
Trust Corporations Act, R.S.O. 1927, chapter 223. Registered as a trust company in Ontario,
May 15, 1928.
120
Annual Report — Registrar of Loan and Trust Corporations
THE LINCOLN TRUST AND SAVINGS COMPANY
Head Office, Niagara Falls, Ont.
Officers
President, P. E. Tregunno; Secretary, J. T. Burnett.
Directors
H. J. Carmichael; H. P. Oakes; P. E. Tregunno; J. L. Rosberg; W. C. Newman; K. F.
Walker; J. Shea; P. H. Sullivan; E. H. Thomson; M. J. Moran; J. T. Burnett; M. C. Deans.
Auditors
Crawford, Smith & Swallow.
Branch Offices
Niagara Falls, Thorold, Grimsby, Welland, St. Catharines, Fort Erie, Dunnville.
Commenced Business in Ontario June 2, 1964.
Capital Stock
Authorized Amount— $3,000,000. No. of Shares— 300,000. Par Value— $10.
Amount subscribed and paid in — 278,940 shares $2,249,400
BALANCE SHEET AS AT OCTOBER 31, 1965
Assets
(at Book Value)
Company Funds
Office Premises $ 187,916
Furniture, Fixtures and Leasehold Improvements 125,728
Mortgage Loans on Real Estate:
First Mortgages $ 619,888
Interest Due and Accrued 3,026
■ 622,914
Bonds and Debentures $ 659,851
Interest Accrued 8,754
668,605
Stocks 448
Cash on Hand $ 750
Cash on Deposit — Chartered Banks in Canada 9,912
10,662
Owing from Guaranteed Funds 489,499
All Other Assets 7,269
Total Assets, Company Funds $ 2,113,041
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 7,905,685
Interest Due and Accrued 93,473
■ $ 7,999,158
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 88,558
Interest Accrued 352
Bonds and Debentures $ 1,147,481
Interest Accrued 11,308
Cash on Hand $ 124,364
Cash on Deposit — Chartered Banks in Canada 437,771
—Elsewhere 19,789
88,910
1,158,789
581,924
Total Assets, Guaranteed Funds
$ 9,828,781
Trust Companies — Detailed Reports 121
THE LINCOLN TRUST AND SAVINGS COMPANY (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 37,885
Other Assets 214,578
Total Assets, Estates, Trusts and Agency Funds $ 252,463
Liabilities
Company Funds
Taxes Other than on Real Estate $ 1,913
All Other Liabilities 31,510
$ 33,423
Paid in Capital 2,249,400
Balance in Profit and Loss Account — Deficit — 169,782
Total Liabilities, Company Funds $ 2,113,041
Guaranteed Funds
Trust Deposits $ 5,393,474
General Guaranteed Funds 3,881,466
Interest Accrued 64,342
Owing to Company Funds 489,499
Total Liabilities, Guaranteed Funds $ 9,828,781
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 252,463
Summary
Company Funds $ 2,113,041
Guaranteed Funds 9,828,781
Estates, Trusts and Agency Funds 252,463
$ 12,194,285
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 42,837
Bonds and Debentures 36,204
Stocks 3
$ 79,044
Profit in Guaranteed Funds 122,003
Fees and Commissions Earned on Estates, Trusts and Agencies 107
Gross Profit on Sale of Securities, Real Estate, etc 670
All Other Income 19,174
Total $ 220,998
122
Annual Report — Registrar of Loan and Trust Corporations
THE LINCOLN TRUST AND SAVINGS COMPANY (Concl'd)
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 7,527
Commission on Loans 35,544
All Other Expenses Incurred:
Advertising $ 35,974
Audit Fees 2,400
Furniture and Fixtures 2,660
Legal Fees 1,683
Maintenance of Office Premises 11,326
Postage, Telegrams, Telephones and Express 12,853
Printing and Stationery 19,389
Rents 12,464
Salaries 150,793
Staff Pension and Group Insurance 7,308
Travelling Expenses 9,777
Miscellaneous 47,489
$ 314,116
Gross Loss on Sale of Securities and Real Estate 2,375
Provision for Depreciation 31,035
Amount by which Book Values of Assets were written down 12,500
Total Expenditure Excluding Income Taxes $ 403,097
Net Loss Transferred to Profit and Loss Account $ * — 182,099
$ 220,998
* Before charging $64,630 Branch Development Expense (Charged to Profit and Loss Account)
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 56,947
Add:
Premium on Capital Stock Sold During Year 20,000
$ 76,947
Deduct:
Loss Transferred from Revenue Account 182,099
Branch Development Expense 64,630
Balance at October 31, 1965 — Deficit $ —169,782
MISCELLANEOUS
All officers and employees are bonded under a blanket policy for $100,000.
Amounts belonging to Estates, Trusts and Agency Funds held in Guaranteed Funds — $18,760.
CONSTATING INSTRUMENTS
March 4, 1964 — Company incorporated under The Loan and Trust Corporations Act of
Ontario by Letters Patent.
June 2, 1964 — Company registered as a trust company under The Loan and Trust Corporations
Act of Ontario.
Annual Report — Registrar of Loan and Trust Corporations
123
THE METROPOLITAN TRUST COMPANY
Head Office, Toronto, Ont.
Officers
President, R. V. Frastacky; General Manager, T. S. Ripley; Secretary, N. C. Saint.
Directors
J. Duinker; R. V. Frastacky; H. Freuler; A. B. Gill; K. L. Markon; R. K. McConnell;
D. R. Michener; T. S. Ripley; F. Simon; L. W. Skey; J. E. Smith; W. H. Stromeyer; D. S.
Harkness; H. T. O'Neill; J. J. Pigott.
Auditors
Campbell, Lawless & Punchard.
Commenced Business in Ontario July 9, 1962.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 200,000. Par Value— $25.
Amount subscribed and paid in — 96,271 shares $2,406,775
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(At Book Value)
Company Funds
Furniture, Fixtures and Leasehold Improvements $ 104,827
Mortgage Loans on Real Estate:
First Mortgages $ 1,114,830
Second and subsequent Mortgages 216,939
Interest Due and Accrued 7,998
1,339,767
Loans Secured by Bonds, Stocks and other Collateral 412,520
Bonds and Debentures $ 671,387
Interest Accrued 10,166
■ 681,553
Stocks 115,028
Cash on Hand $ 415
Cash on Deposit — Chartered Banks in Canada 89,303
Elsewhere 478
90,196
Advances to Estates, Trusts, etc. Under Administration 53,200
Accrued Fees on Estates, Trusts and Agencies 21,230
All other Assets 67,426
Total Assets, Company Funds $ 2,885,747
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 12,549,466
Second and subsequent Mortgages 391,140
Interest Due and Accrued 136,983
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 877,468
Interest Accrued 4,300
Bonds and Debentures $ 5,668,299
Interest Accrued 92,686
$ 13,077,589
881,768
5,760,985
124
Annual Report — Registrar of Loan and Trust Corporations
THE METROPOLITAN TRUST COMPANY (Cont'd)
Cash on Hand $ 18,896
Cash on Deposit — Chartered Banks in Canada 1,332,136
— Elsewhere 2,479
■ 1,353,511
Total Assets, Guaranteed Funds $ 21,073,853
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 27,643
Other Assets 52,550,484
Total Assets, Estates, Trusts and Agency Funds $ 52,578,127
Liabilities
Company Funds
Taxes other than on Real Estate $ 75,000
All other Liabilities 25,001
$ 100,001
Paid in Capital 2,406,775
Reserve Fund 250,000
Balance in Profit and Loss Account 128,971
Total Liabilities, Company Funds $ 2,885,747
Guaranteed Funds
Trust Deposits $ 12,697,026
Specific Guaranteed Funds 1,500,000
General Guaranteed Funds 6,669,743
Interest Accrued 207,084
Total Liabilities, Guaranteed Funds $ 21,073,853
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 52,524,927
Owing to Company Funds 53,200
Total Liabilities, Estates, Trusts and Agency Funds $ 52,578,127
Summary
Company Funds $ 2,885,747
Guaranteed Funds 21,073,853
Estates, Trusts and Agency Funds 52,578,127
$ 76,537,727
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale
Collateral Loans
Bonds and Debentures
Stocks
Bank Deposits
Other Assets
$ 69,400
20,445
36,989
3,520
1,821
8,797
$ 140,972
Trust Companies — Detailed Reports
125
THE METROPOLITAN TRUST COMPANY (Concl'd)
Profit in Guaranteed Funds 331,300
Fees and Commissions Earned on Estates, Trusts and Agencies 185,588
All Other Income 322,965
Total $ 980,825
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 10,522
All Other Expenses Incurred:
Advertising $ 46,711
Audit Fees 4,100
Directors' Fees 16,200
Legal Fees 5,300
Maintenance of Office Premises 7,620
Postage, Telegrams, Telephones and Express 21,579
Printing and Stationery 31,415
Rents 48,969
Salaries 404,502
Staff Pension and Group Insurance 19,578
Travelling Expenses 16,755
Miscellaneous 100,364
723,093
Provision for Depreciation 25,507
Amount Transferred to Investment Reserves 35,000
Total Expenditure Excluding Income Taxes $ 794,122
Provision for Income Taxes 69,000
Net Profit Transferred to Profit and Loss Account * 117,703
$ 980,825
* Before charging $24,904 Increase in Prepaid Expenses (Charged to Profit and Loss Account)
PROFIT AND LOSS ACCOUNT
Balance brought forward from previous year $ 65,218
Add:
Amount transferred from Revenue Account 117,703
Premium on Capital Stock sold during year 4,650
$ 187,571
Deduct:
Increase in Prepaid Expenses 24,904
Amount transferred to Reserve Fund 33,696
Balance at December 31, 1965 $ 128,971
MISCELLANEOUS
The officers and employees of the company are covered by a blanket bond for $15,000,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed funds — $263,362.
CONSTATING INSTRUMENTS
Incorporated on June 7, 1962, by letters patent of Ontario, issued under The Loan and Trust
Corporations Act. Registered as a trust company in Ontario, July 9, 1962.
Order-in-Council, October 15, 1964, authorized an increase in the capital stock from 100,000
to 200,000 shares of $25 par value *ach.
126
Annual Report — Registrar of Loan and Trust Corporations
MONTREAL TRUST COMPANY
Head Office, Montreal, Que.
Officers
Chairman of the Board, O. B. Thornton; President, D. E. Kerlin; General Manager, S. A.
Cobbett; Secretary, M. C. Holt.
Directors
G. H. Allen; D. W. Ambridge; T. H. Atkinson; G. R. Berry; F. P. Brais; J. M. Breen;
K. H. Brown; G. P. Burchill; G. A. Burton; A. B. Christopher; S. A. Cobbett; F. M. Covert;
H. R. Crabtree; P. G. Desmarais; J. E. L. Duquet; G. B. Foster; J. A. Fuller; S. Godin;
W. N. Hall; R. D. Harkness; G. M. Hobart; W. H. Howard; R. H. B. Ker; D. E. Kerlin;
H. H. Lank; Hon. M. W. McCutcheon; W. E. McLaughlin; F. M. McMahon; T. F. Moore;
T. R. Moore; A. T. O'Leary; L. Philips; F. W. Ross; M. O. Simpson; S. Steinberg; D. A.
Thompson; P. N. Thompson; O. B. Thornton; C. W. Webster; H. G. Welsford; C. N. W.
Woodward; D. K. Yorath.
Auditors
Touche, Ross, Bailey & Smart and Price, Waterhouse & Co.
Branch offices
Brockville, Calgary, Charlottetown, Corner Brook, Edmonton, Halifax, Kelowna, London,
Ottawa, Pointe Claire, Quebec, Regina, Saint John, St. John's, Sudbury, Toronto, Truro, Vancouver,
Victoria, Winnipeg, Prince George.
Commenced Business in Ontario, 1909.
Capital Stock
Authorized Amount — $5,000,000. No. of Shares — 5,000,000. Par Value — $1.
Amount subscribed and paid in — 2,189,300 shares $2,189,300
BALANCE SHEET AS AT DECEMBER 31, 1965
(At Book Value)
Company Funds
Office Premises $ 1,108,567
Furniture, Fixtures and Leasehold Improvements 3,149,019
Real Estate held for sale 325,345
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 801,187
Second and subsequent Mortgages 12,393
Agreements of Sale 2,337
Interest Due and Accrued 7,520
Loans Secured by Bonds, Stocks and other Collateral:
Principal $ 192,761
Interest Accrued 131
823,437
192,892
Bonds and Debentures $ 484,537
Interest Accrued 4,854
■ 489,391
Stocks 6,275,644
Investment in and Advances to Subsidiary Companies 5,156,897
Cash on Hand $ 6,250
Cash on Deposit — Chartered Banks in Canada 2,096,020
— Elsewhere 5,170
2,107,440
Advances to Estates, Trusts, etc. Under Administration 1,424,842
Accrued fees and charges for administering Estates 1,561,728
All other Assets 714,900
Total Assets, Company Funds $ 23,330,102
Trust Companies — Detailed Reports 127
MONTREAL TRUST COMPANY (Cont'd)
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $187,368,245
Interest Due and Accrued 2, 1 78,8 1 1
$ 189,547,056
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 4,944,509
Interest Accrued 15,337
4,959,846
Bonds and Debentures $140,375,080
Interest Accrued 1,345,898
■ 141,720,978
Cash on Hand $ 743,267
Cash on Deposit— Chartered Bank in Canada 7,290,579
Elsewhere 801,878
8,835,724
Total Assets, Guaranteed Funds $ 345,063,604
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 73,222,800
Other Assets 3,039,509,346
Total Assets, Estates, Trusts and Agency Funds $3,1 12,732,146
Liabilities
Company Funds
Taxes other than on Real Estate $ 349,366
Dividends Payable 218,930
All other Liabilities 2,089,920
$ 2,658,216
Paid in Capital 2,189,300
Reserve Fund 17,000,000
Balance in Profit and Loss Account 1,482,586
Total Liabilities, Company Funds $ 23,330,102
Guaranteed Funds
Trust Deposits $ 98,736,202
General Guaranteed Funds 242,921,052
Interest Accrued 3,406,350
Total Liabilities, Guaranteed Funds $ 345,063,604
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $3,111,307,304
Owing to Company Funds 1,424,842
Total Liabilities, Estates, Trusts and Agency Funds $3,112,732,146
Summary
Company Funds $ 23,330,102
Guaranteed Funds 345,063,604
Estates, Trusts and Agency Funds 3,112,732,146
$3,481,125,852
128
Annual Report — Registrar of Loan and Trust Corporations
MONTREAL TRUST COMPANY (Cont'd)
REVENUE ACCOUNT
Income
Interest and Dividends Earned on :
Mortgages and Agreements of Sale $ 53,244
Collateral Loans 34,656
Bonds and Debentures 42,197
Stocks 457,511
Other Assets 106,831
$ 694,439
Profit in Guaranteed Funds 3,997,474
Fees and Commissions Earned on Estates, Trusts and Agencies 12,272,820
All Other Income 717,078
Total $ 17,681,811
Expenditure
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) $ 109,471
All Other Expenses Incurred:
Advertising $ 716,631
Audit Fees 80,536
Directors' Fees 62,310
Furniture and Fixtures 54,433
Legal Fees 53,216
Maintenance of Office Premises 366,422
Postage, Telegrams, Telephones and Express 359,497
Printing and Stationery 340,037
Rents and Improvements — leased premises 1,812,351
Salaries 7,965,158
Staff Pension and Group Insurance 416,226
Travelling Expenses 414,151
Miscellaneous 611,155
13,252,123
Provision for Depreciation 427,153
Total Expenditure Excluding Income Taxes $ 13,788,747
Provision for Income Taxes 1,856,000
Net Profit Transferred to Profit and Loss Account 2,037,064
17,681,811
PROFIT AND LOSS ACCOUNT
Balance brought forward from previous year $ 1,788,290
Add:
Amount transferred from Revenue Account 2,037,064
Transfer from Reserve-Removal Expenses 1,090
$ 3,826,444
Deduct:
Dividends to Shareholders declared during year 1,202,184
Amount transferred to Reserve Fund 851,888
Mortgage Commission expense prepaid 289,786
Balance at December 31, 1965 $ 1,4 82,586
Trust Companies — Detailed Reports
129
MONTREAL TRUST COMPANY (Concl'd)
MISCELLANEOUS
Dividends and bonuses declared during the year — .55^ per share.
The officers and employees of the Company are covered by a brokers' blanket bond for $20 million
in aggregate.
Amounts belonging to estates, trusts and agency funds held in guaranteed funds — $25,442,601.
CONSTATING INSTRUMENTS
The Montreal Trust Company was incorporated on March 21, 1889, by Special Act of the
Province of Quebec, 52 Vic, c. 72 (Q), and the following subsequent special amending Acts:
54 Vic, c. 75; 55-56 Vic, c 78; 63 Vic, c 77; 20 Geo. V, c 139; and 24 Geo. V, c. 121.
By Special Acts the name was changed in 1895 to Montreal Trust and Deposit Company
59 Vic, c 70 (Q), and again in 1909 to the Montreal Trust Company, 9 Edw. VII, c. 115 (Q).
Authorized by Order-in-Council to carry on business in the Province of Ontario as from
March 1 1, 1909, subject to certain conditions and limitations.
Registered in the Trust Companies Register, January 21, 1913.
By Order-in-Council dated February 25, 1928, the capital stock was increased from
$1,000,000.00 to $2,000,000.00.
20 George V., c. 139 Quebec 1930.
24 George V., c. 121 Quebec 1934.
Supplementary Letters Patent, Feb. 10, 1951, confirming Sub-Division of Shares on a five to one
basis.
By the Montreal Trust Company Act, 1958, the amalgamation of the Montreal Trust Com-
pany and the Maritime Trust Company was approved, effective May 1, 1958. Approved by the
legislature of New Brunswick, April 18, 1958.
By Order-in-Council dated July 24, 1958, the authorized capital stock of the company was
increased from $2,000,000.00 to $2,500,000.00.
The Company has a deposit with the Province of Ontario amounting to $250,000,000. Order-
in-Council assented to July 6, 1909.
By Order-in-Council dated December 17, 1959, approval was given to an agreement whereby
the Montreal Trust Company assumed the assets and liabilities of The Brockville Trust and Savings
Company.
By special Act of the Province of Ontario (Bill Pr6 9-10 Eliz. II, 1960-61), the Lieutenant
Governor-in-Council may require an increase in or authorize a decrease or change in the amount
of security given by the Company to the Province of Ontario. Under this Act, the admissibility
of the Company to registry under The Loan and Trust Corporations Act was confirmed and the
Company authorized to carry on in Ontario, the business of a trust company. All investments
comprising trust assets under adrninistration by the Company in Ontario shall be trust securities
in which trustees are, by the laws of Ontario, authorized to invest trust funds.
By Letters Patent dated February 18, 1965, the capital stock was subdivided on a five-for-one
basis — new value $ 1 .00 per share.
By Order-in-Council dated March 9, 1965, the capital stock was increased from $2,500,000
to $5,000,000.
130
Annual Report — Registrar of Loan and Trust Corporations
NATIONAL TRUST COMPANY, LIMITED
Head Office, Toronto, Ont.
Officers
Chairman of the Board, J. G. Hungerford; President, H. H. Wilson; Secretary, B. O.
Partridge.
Directors
R. A. Laidlaw; J. G. Hungerford; H. H. Wilson; E. C. Fox; J. D. Barrtngton; F. B.
Brown; C. F. Carsley; T. S. Duncanson; H. P. Frid; E. C. Gill; J. G. Glassco; C. B. Hill;
F. J. Hughes; W. F. James; W. Leggat; A. Martin; V. Massey; J. L. McCarthy; A. C. McKim;
N. J. McKinnon; A. S. McNichols; P. T. Molson; G. Morrow; F. W. Nicks; W. M. O'Connor;
C. Osborne; H. E. Pearson; R. W. Pearson; J. A. Prudhomme; W. W. Robinson;
F. A. Sherman; E. F. Tolhurst; S. M. Wedd; J. E. Woods; F. H. Sherman; R. S. T. Laurant;
G. Horsey; T. Parlee; J. F. Fairlee; A. H. Lemmon; J. H. Taylor.
Auditors
Clarkson, Gordon & Co.
Branch Offices
Toronto, Montreal, Hamilton, Winnipeg, Edmonton, Calgary, Vancouver, Victoria, Oshawa.
Commenced Business in Ontario, 1898.
Capital Stock
Authorized Amount — $5,000,000. No. of shares — 2,500,000. Par Value — $2.
Amount subscribed and paid in — 1,862,761 shares $3,725,502
BALANCE SHEET AS AT OCTOBER 31, 1965
Assets
(at Book Value)
Company Funds
Offices Premises $ 2,779,502
Mortgage Loans on Real Estate:
First Mortgages 261,511
Loans Secured by Bonds, Stocks and Other Collateral 35,044
Bonds and Debentures 6,233,825
Stocks 8,871,748
Cash on Hand $ 37,800
Cash on Deposit — Chartered Banks in Canada 2,154,708
—Elsewhere 212,038
. 2,404,546
Advances to Estates, Trusts, etc. Under Administration 316,156
Total Assets, Company Funds $ 20,902,332
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $156,843,350
Second and Subsequent Mortgages 452,223
$157,295,573
Loans Secured by Bonds, Stocks and Other Collateral 265,170
Bonds and Debentures 136,750,766
Cash on Hand 771,191
Total Assets, Guaranteed Funds $295,082,700
Trust Companies — Detailed Reports 131
NATIONAL TRUST COMPANY, LIMITED (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 25,858,624
Other Assets 1,088,058,392
Total Assets, Estates, Trusts and Agency Funds $1,113,917,016
Liabilities
Company Funds
Taxes Other than on Real Estate $ 853,165
Paid in Capital 3,725,503
Reserve Fund 15,500,000
Balance in Profit and Loss Account 823,664
Total Liabilities, Company Funds $ 20,902,332
Guaranteed Funds
Trust Deposits $251,964,183
General Guaranteed Funds 41,752,711
Interest Accrued 1,365,806
Total Liabilities, Guaranteed Funds $295,082,700
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $1,113,600,860
Owing to Company Funds 316,156
Total Liabilities, Estates, Trusts and Agency Funds $1,113,917,016
Summary
Company Funds $ 20,902,332
Guaranteed Funds 295,082,700
Estates, Trusts and Agency Funds 1,113,917,016
$1,429,902,048
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 354,684
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 50,002
Collateral Loans 3,578
Bonds and Debentures 349,248
Stocks 417,711
Other Assets 32,707
■ 853,246
Profit in Guaranteed Funds 4,808,156
Fees and Commissions Earned on Estates, Trusts and Agencies 7,299,904
All Other Income 34,181
Total $ 13,350,171
Expenditure
Interest Incurred During the Year $ 30,194
Taxes, Licenses and Fees (Excluding Income Tax and Tax on Real Estate) 151,573
All Other Expenses Incurred:
Advertising $ 674,305
Audit Fees 45,000
Directors' Fees 56,920
Furniture and Fixtures 226,944
132
Annual Report — Registrar of Loan and Trust Corporations
NATIONAL TRUST COMPANY, LIMITED (Concl'd)
Legal Fees 25,822
Maintenance of Office Premises 646,049
Postage, Telegrams, Telephones and Express 181,097
Printing and Stationery 168,417
Rents 1,000,141
Salaries 5,041,878
Staff Pension and Group Insurance 234,460
Travelling Expenses 41,714
Miscellaneous 1,206,938
9,549,685
Provision for Depreciation 62,442
Amount by which Ledger Values of Assets were written down 306,123
Total Expenditure Excluding Income Taxes $ 10,100,017
Provision for Income Taxes 1,567,672
Net Profit Transferred to Profit and Loss Account 1,682,482
$ 13,350,171
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 721,577
Add:
Amount Transferred from Revenue Account 1,682,482
Amount Transferred from General Contingency Reserve 2,500,000
$ 4,904,059
Deduct:
Dividends to Shareholders Declared During Year 1,080,395
Amount Transferred to Reserve Fund 3,000,000
Balance at October 31, 1965 $ 823,664
MISCELLANEOUS
Dividends and bonuses declared during the year — 58c. per share.
The officers and employees of the Company are covered by a Trust Companies blanket bond for
$2,000,000.
Amount belonging to estates, trusts and agency funds held in the guaranteed fund — $18,324,447.
CONSTATING INSTRUMENTS
August 12, 1898 — Incorporated August 12, 1898, as The National Trust Company of Ontario,
Limited, by Letters Patent under The Ontario Companies Act.
September 21, 1899 — Order-in-Council, Province of Ontario, changing name of The National
Trust Company of Ontario, Limited, to National Trust Company, Limited.
March 23, 1900 — Authorized to do business in the Province of Quebec: chap. 78, Statutes
of Quebec, 63 Victoria.
June 1, 1900 — Authorized to carry on and transact business in Manitoba: chap. 69, Statutes
of Manitoba, 63 and 64 Victoria, 1900.
July, 1900 — Acquired Manitoba Trust Company by the purchase of its entire assets for
$115.00 a share of capital stock.
August, 1924 — Absorbed The Mercantile Trust Company of Canada, Limited, paying one
share of National Trust Company, Limited, stock and $30,000 cash for each two shares The Mer-
cantile Trust Company of Canada, Limited, stock. Order-in-Council, Province of Ontario,
assenting to above absorption.
July 16, 1946 — Order-in-Council, Province of Ontario, increasing the capital stock of the
Company from $3,000,000 to $5,000,000.00.
July 19, 1962 — Order-in-Council, Province of Ontario, the Company subdivided each share
having a par value of $10 into 5 shares each having a par value of $2.
June 3, 1965 — Order-in-Council, Province of Ontario, authorising the acquisition of a
branch office building known as 330-8th Avenue, S/W, in the City of Calgary, in the Province
of Alberta.
June 3, 1965 — Order-in-Council, Province of Ontario, authorising the acquisition of a
branch office building known as 980 West Pender Street, in the New Westminster District of the
City of Vancouver, in the Province of British Columbia.
Trust Companies — Detailed Reports
133
NORTHLAND TRUST COMPANY
Head Office, Timmins, Ont.
Officers
President, J. W. McBean; General Manager, P. H. Harrower; Secretary, J. S. Stewart.
Directors
F. G. Carrote; W. R. du Pont; P. H. Harrower; J. A. Kennedy; G. E. Knowles; M. A.
Korman; J. L. C. McKay-Clements; J. P. McVittie; R. H. Pope; J. S. Stewart; G. E.
Wallace; E. J. Marinigh.
Auditors
Clarkson, Gordon & Co.
Branch Offices
Timmins, Kirkland Lake, Kapuskasing, Hamilton, Sudbury.
Commenced Business in Ontario, 1962.
Capital Stock
Authorized Amount— $2,000,000. No. of Shares— 200,000. Par Value— $10.
Amount subscribed — 124,800 shares
Fully paid — 64,728 " $647,280
75% " — 1,020 " 7,650
50% " — 10,507 " 52,535
Unpaid — 48,545 " nil
124,800 " $707,465
BALANCE SHEET AS AT OCTOBER 31, 1965
(at Book Value)
Company Funds
Furniture, Fixtures and Leasehold Improvements $ 87,413
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 344,385
Interest Due and Accrued 2,395
346,780
Bonds and Debentures $ 54,563
Interest Accrued 424
. 54,987
Stocks 88,535
Cash on Deposit — Chartered Banks in Canada 174,828
Owing from Guaranteed Funds 129,629
Total Assets, Company Funds $ 882,172
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 3,694,833
Interest Due and Accrued 29,549
$ 3,724,382
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 39,642
Interest Accrued 210
. 39,852
Bonds and Debentures $ 2,309,882
Interest Accrued 30,034
2,339,916
Cash on Deposit — Chartered Banks in Canada 52,391
Total Assets, Guaranteed Funds $ 6,156,541
134
Annual Report — Registrar of Loan and Trust Corporations
NORTHLAND TRUST COMPANY (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 17,676
Other Assets 45,903
Total Assets, Estates, Trusts and Agency Funds $ 63,579
Liabilities
Company Funds
Borrowed Money (Secured) $ 128,500
All Other Liabilities 45,767
$ 174,267
Paid in Capital 707,465
Balance in Profit and Loss Account 440
Total Liabilities, Company Funds $ 882,172
Guaranteed Funds
Trust Deposits $ 2,975,194
General Guaranteed Funds 2,943,759
Interest Accrued 107,959
Owing to Company Funds 129,629
Total Liabilities, Guaranteed Funds $ 6,156,541
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 63,579
Summary
Company Funds $ 747,811
Guaranteed Funds 6, 1 87, 1 68
Estates, Trusts and Agency Funds 63,579
$ 6,998,558
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 33,956
Bonds and Debentures 4,144
Stocks 1,533
. $ 39,633
Profit in Guaranteed Funds 77,971
Fees and Commissions Earned on Estates, Trusts and Agencies 9
Gross Profit on Sale of Securities, Real Estate, etc 8,453
All Other Income 3,756
Total $ 129,822
Trust Companies — Detailed Reports
135
NORTHLAND TRUST COMPANY (Concl'd)
Expenditure
Interest Incurred During the Year $ 10
Taxes, Licenses and Fees (Excluding Income Tax and Tax on Real Estate) 3,783
All Other Expenses Incurred:
Advertising $ 47,324
Audit Fees 6,490
Furniture and Fixtures 351
Legal Fees 9,419
Postage, Telegrams, Telephones and Express 8,835
Printing and Stationery 12,846
Rents 20,513
Salaries 118,786
Staff Pension and Group Insurance 259
Travelling Expenses 8,666
Miscellaneous 23,029
256,518
Provision for Depreciation 9,928
Total Expenditure Excluding Income Taxes $ 270,239
Net Loss Transferred to Profit and Loss Account — 140,417
$ 129,822
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year — Deficit $ — 34,343
Deduct:
Premium on Capital Stock Sold During Year 175,200
$ 140,857
Deduct:
Net Loss Transferred from Revenue Account — 140,417
Balance at October 31, 1965 $ 440
MISCELLANEOUS
The officers and employees of the Company are covered by a blanket bond for $500,000.
Amount belonging to Estates, Trusts and Agency Funds held in Guaranteed Funds — $17,676.
CONSTATING INSTRUMENTS
Incorporated on December 7, 1961 by Letters Patent under The Loan and Trust Corporations
Act, R.S.O. 1960, Chapter 222. Registered as a Trust Company in Ontario, February 15, 1962.
136
Annual Report — Registrar of Loan and Trust Corporations
THE PREMIER TRUST COMPANY
Head Office, Toronto, Ont.
Officers
President and General Manager, T. B. Holmes; Secretary, F. C. White.
Directors
T. B. Holmes; N. S. Watt; T. H. Holmes; E. W. Langley; G. F. McCann; T. M. Weather-
head; L. J. Fleck.
Auditors
J. R. Neff, C.A., and J. E. Goodwin, C.A.
Branch Offices
London, St. Catharines.
Commenced Business in Ontario 1918.
Capital Stock
Authorized Amount— $3,000,000. No. of Shares— 30,000. Par Value— $100.
Amount subscribed and paid in — 12,250 shares $1,225,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Office Premises $ 400,832
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 1,076,969
Interest Due and Accrued 12,456
1,089,425
Loans Secured by Bonds, Stocks and Other Collateral 6,210
Bonds and Debentures 907,340
Stocks 171,246
Cash on Hand $ 150
Cash on Deposit — Chartered Banks in Canada 151,743
151,893
All Other Assets 5,773
Total Assets, Company Funds $ 2,732,719
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 23,376,466
Interest Due and Accrued 107,006
$ 23,483,472
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 1,810,071
Interest Accrued 872
. 1,810,943
Bonds and Debentures 5,684,396
Cash on Hand $ 42,361
Cash on Deposit — Chartered Banks in Canada 352,953
395,314
Total Assets, Guaranteed Funds
$ 31,374,125
Trust Companies — Detailed Reports
137
THE PREMIER TRUST COMPANY (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 464,178
Other Assets 6,604,012
Total Assets, Trusts and Agency Funds $ 7,068,190
Liabilities
Company Funds
Taxes Other than on Real Estate $ 71,085
Dividends Payable 24,674
All Other Liabilities 7,395
$ 103,154
Paid in Capital 1,225,000
Reserve Fund 1,200,000
Balance in Profit and Loss Account 204,565
Total Liabilities, Company Funds $ 2,732,719
Guaranteed Funds
Trust Deposits $ 3,152,696
General Guaranteed Funds 27,892,247
Interest Accrued 329,182
Total Liabilities, Guaranteed Funds $ 31,374,125
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 7,068,190
Summary
Company Funds $ 2,732,719
Guaranteed Funds 31,374,125
Estates, Trusts and Agency Funds 7,068,190
$ 41,175,034
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 117,081
Collateral Loans 86
Bonds and Debentures 31,085
Stocks 33,467
, $ jgj 719
Profit in Guaranteed Funds 739,875
Fees and Commissions Earned on Estates, Trusts and Agencies 107,629
Gross Profit on Sale of Securities, Real Estate, etc 5,351
All Other Income 11,917
Total $ 1,046,491
138
Annual Report — Registrar of Loan and Trust Corporations
THE PREMIER TRUST COMPANY (Concl'd)
Expenditure
Interest Incurred During the Year $ 698
Taxes, Licenses and Fees (Excluding Income Tax and Tax on Real Estate) 10,102
Commission on Loans 40,381
All Other Expenses Incurred:
Advertising $ 8,808
Audit Fees 4,000
Directors' Fees 10,920
Legal Fees 28,809
Maintenance of Office Premises 21,241
Postage, Telegrams, Telephones and Express 7,996
Printing and Stationery 11,509
Salaries 289,903
Staff Pension and Group Insurance 3,059
Travelling Expenses 9,088
Miscellaneous 20,836
416,169
Provision for Depreciation 20,500
Amount Transferred to Investment Reserves 128,351
Total Expenditure Excluding Income Taxes $ 616,201
Provision for Income Taxes 196,000
Net Profit Transferred to Profit and Loss Account 234,290
$ 1,046,491
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 68,408
Add:
Amount Transferred from Revenue Account 234,290
$ 302,698
Deduct:
Dividends to Shareholders Declared During Year 98,133
Balance at December 31, 1965 $ 204,565
MISCELLANEOUS
Dividends and bonuses declared during the year — $8 per share.
The Officers and employees of the Company are covered by a brokers' blanket bond for $1,000,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed fund — $293,469.
CONSTATING INSTRUMENTS
Incorporated April 2, 1913, under chap. 179, Parliament of Canada, 3-4 Geo. V; extended
March 24, 1915. Registered in Ontario, November 20, 1918.
Amalgamation with the Imperial Trusts Company of Canada. Agreement for purchase ap-
proved by the Treasury Board of Canada, March 28th, 1934, and also approved by Order-in-
Council by the Lieutenant Governor, Province of Ontario, on April 24, 1934, as of March 28,
1934.
Amalgamation with the Security Loan and Savings Company, St. Catharines, Ont. Agree-
ment of purchase approved by the Treasury Board of Canada, September 1, 1937, and also
approved by Order-in-Council of the Lieutenant Governor for the Province of Ontario, June 23,
1937, as of March 24, 1937.
Trust Companies — Detailed Reports
139
RIDEAU TRUST COMPANY
Head Office, Ottawa, Ont.
Officers
President, Jarvis Freedman; Secretary, J. C. Horwitz.
Directors
J. Freedman; R. A. Bell; J. C, Horwitz; L. H. Freedman; E. Bushnell; M. R. Freedman;
G. W. Greer; L. P. Lafrance; A. Martineau; J. A. Perkins, Jr.
Auditors
John Cross and Partners.
Commenced Business in Ontario, January 1, 1965.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 500,000. Par Value— $10.
Amount subscribed and paid in — 53,710 shares $537,100
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Furniture, Fixtures and Leasehold Improvements $ 121,055
Mortgage Loans on Real Estate:
First Mortgages $ 62,778
Interest Due and Accrued 410
■ 63,188
Bonds and Debentures $ 159,275
Interest Accrued 1,627
160,902
Stocks 82,342
Cash on Hand $ 250
Cash on Deposit — Chartered Banks in Canada 41,690
41,940
Owing from Guaranteeed Funds 14,369
Advances to Estates, Trusts, etc. Under Administration 128
All Other Assets 151,110
Total Assets, Company Funds $ 635,034
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 599,126
Interest Due and Accrued 4,148
Loans Secured by Bonds, Stocks and Other Collateral:
Principal
Interest Accrued
Bonds and Debentures
Interest Accrued
Cash on Hand
Cash on Deposit — Chartered Banks in Canada
$
91,500
957
$
549,390
6,865
$
45,176
95,395
603,274
92,457
556,255
140,571
Total Assets, Guaranteed Funds
$ 1,392,557
140
Annual Report — Registrar of Loan and Trust Corporations
RIDEAU TRUST COMPANY (Cont'd)
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 33,679
Other Assets 88,996
Total Assets, Estates, Trusts and Agency Funds $ 122,675
Liabilities
Company Funds
Accounts Payable $ 113,448
Paid in Capital 537,100
Balance in Profit and Loss Account (Deficit) — 15,514
Total Liabilities, Company Funds $ 635,034
Guaranteed Funds
Trust Deposits $ 800,594
General Guaranteed Funds 567,924
Interest Accrued 9,670
Owing to Company Funds 14,369
Total Liabilities, Guaranteed Funds $ 1,392,557
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 122,547
Owing to Company Funds 128
Total Liabilities, Estates, Trusts and Agency Funds $ 122,675
Summary
Company Funds $ 635,034
Guaranteed Funds 1,392,557
Estates, Trusts and Agency Funds 122,675
$ 2,150,266
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 11,010
Collateral Loans 15
Bonds and Debentures 10,488
Stocks 2,146
Bank Deposits 2,511
$ 26,170
Profit in Guaranteed Funds 8,983
Fees and Commissions Earned on Estates, Trusts and Agencies 17,607
All Other Income 129,555
Total $ 182,315
Trust Companies — Detailed Reports 141
RIDEAU TRUST COMPANY (Concl'd)
Expenditure
Interest Incurred During the Year $ 1,356
All Other Expenses Incurred:
Advertising $ 65,720
Audit Fees 4,000
Legal Fees 2,399
Postage, Telegrams, Telephones and Express 10,221
Printing and Stationery 23,399
Rents 26,264
Salaries 116,138
Staff Pension and Group Insurance 7,504
Travelling Expenses 6,749
Miscellaneous 27,708
290,102
Gross Loss on Sale of Securities and Real Estate 4,866
Total Expenditure $ 296,324
Net Loss Transferred to Profit and Loss Account — 114,009
$ 182,315
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 94,335
Add:
Premium on Capital Stock Sold During Year 4,160
$ 98,495
Deduct:
Amount Transferred from Revenue Account — (Loss) $ 114,009
Balance at December 31, 1965 (Deficit) $ —15,514
MISCELLANEOUS
The officers and employees of the Company are bonded for $500,000 under a blanket bond.
CONSTATING INSTRUMENTS
Incorporated under The Loan and Trust Corporations Act by issue of Letters Patent dated
August 13, 1964, and registered as a Trust Company, December 29, 1964.
142
Annual Report — Registrar of Loan and Trust Corporations
THE ROYAL TRUST COMPANY
Head Office, Montreal, Que.
Officers
Chairman of the Board, J. Pembroke; President, C. F. Harrington; Secretary, R. R.
Merrifield.
Directors
J. Pembroke; J. M. Wells; C. F. Harrington; W. A. Arbuckle; H. G. Birks; H. P.
Connor; J. B. Cross; N. R. Crump; T. W. Eadie; C. P. Fell; P. M. Fox; C. A. Geoffrion;
G. B. Gordon; A. C. Jensen; W. S. Kirkpatrick; M. W. Mackenzie; J. W. McKee; T. R.
McLagan; D. R. McMaster; H. C. F. Mockridge; T. H. P. Molson; J. L. O'Brien; A. C.
Price; L. G. Rolland; H. G. Smith; J. Harris; H. Husband; L. Hynes; L. A. Lapointe;
H. T. Mitchell; R. B. Brenan; A. M. Campbell; H. J. Lang; J. Martineau; V. W. T. Scully;
Hon. G. C. Marler; A. L. Penhale.
Auditors
Riddell, Stead, Graham & Hutchison.
Branch offices
Montreal, Calgary, Charlottetown, Edmonton, Halifax, Hamilton, London, Ottawa, Quebec,
Saint John, St. John's, Saskatoon, Toronto, Vancouver, Victoria, Winnipeg, Kingston, Regina,
Trois Rivieres, Sherbrooke, St. Catharines, Sault Ste. Marie, Lakehead, Lethbridge, Kelowna.
Commenced Business in Ontario 1905.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 1,000,000. Par Value — $5.
Amount subscribed and paid in — 632,000 shares $3,160,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Office Premises $ 4,286,783
Furniture, Fixtures and Leasehold Improvements 2,533,135
Loans Secured by Bonds, Stocks and Other Collateral 717,271
Bonds and Debentures $ 4,715,905
Interest Accrued 61,200
4,777,105
Stocks 10,403,629
Cash on Hand $ 5,544
Cash on Deposit — Chartered Banks in Canada 500,000
—Elsewhere 199,246
704,790
Advances to Estates, Trusts, etc. Under Administration 6,103,304
All Other Assets 540,125
Total Assets, Company Funds $ 30,066,142
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $161,403,792
Interest Due and Accrued 852,611
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 39,198,309
Interest Accrued 328,957
$162,256,403
39,527,266
Trust Companies — Detailed Reports 143
THE ROYAL TRUST COMPANY (Cont'd)
Bonds and Debentures $193,275,849
Interest Accrued 1,927,041
. 195,202,890
Cash on Hand $ 180,272
Cash on Deposit — Chartered Banks in Canada 25,277,712
—Elsewhere 199,860
25,657,844
Total Assets, Guaranteed Funds $422,644,403
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 35,509,978
Other Assets 3,408,261,802
Total Assets, Estates, Trusts and Agency Funds $3,443,771,780
Liabilities
Company Funds
Borrowed Money (Secured) $ 1,058,254
Taxes Other than on Real Estate 662,661
All Other Liabilities 316,419
$ 2,037,334
Paid in Capital 3,160,000
Reserve Fund 23,000,000
Balance in Profit and Loss Account 1,868,808
Total Liabilities, Company Funds $ 30,066,142
Guaranteed Funds
Trust Deposits $ 20,866,886
Specific Guaranteed Funds 52.879
General Guaranteed Funds 398,755.970
Interest Accrued 2,968,668
Total Liabilities, Guaranteed Funds $422,644,403
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $3,437,668,476
Owing to Company Funds 6,103,304
Total Liabilities, Estates, Trusts and Agency Funds $3,443,771,780
Summary
Company Funds $ 30.066,142
Guaranteed Funds 422,644,403
Estates, Trusts and Agency Funds 3,443,771,780
$ 3,896,482,325
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Collateral Loans $ 265,448
Bonds and Debentures 265,721
Stocks 238,305
Bank Deposits 366,466
$ 1,135,940
144
Annual Report — Registrar of Loan and Trust Corporations
THE ROYAL TRUST COMPANY (Concl'd)
Profit in Guaranteed Funds 4,222,665
Fees and Commissions Earned on Estates, Trusts and Agencies 16,303,958
Total $ 21,662,563
Expenditure
Taxes, Licenses and Fees (Excluding Income Tax and Tax on Real Estate) $ 218,416
All Other Expenses Incurred:
Advertising $ 744,535
Audit Fees 107,606
Directors' Fees 152,158
Legal Fees 61,223
Maintenance of Office Premises 604,382
Postage, Telegrams, Telephones and Express 448,362
Printing and Stationery 409,669
Rents 1,334,680
Salaries 9,777,876
Staff Pension and Group Insurance 759,179
Travelling Expenses 331,852
Miscellaneous 918,353
. 15,649,875
Provision for Depreciation 583,307
Total Expenditure Excluding Income Taxes $ 16,451,598
Provision for Income Taxes 2,375,000
Net Profit Transferred to Profit and Loss Account 2,835,965
$ 21,662,563
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 2,893,843
Add:
Amount Transferred from Revenue Account 2,835,965
$ 5,729,808
Deduct:
Dividends to Stockholders Declared During Year 1,487,000
A\mount Transferred to Mortgage Reserve $ 804,000
Less:
Income Tax Reduction Applicable Thereto 400,000
. 404,000
Amount Transferred to Reserve Fund 1,970,000
Balance at December 31, 1965 $ 1,868,808
MISCELLANEOUS
Dividends and bonuses declared during the year — $2.50 per share.
All employees of the Company are covered by a blanket bond of $20,000,000 in excess of $50,000.
Amounts belongings to estates, trusts and agency funds held in guaranteed funds — $50,000,000
(estimate).
The Company has a deposit in the Province of Ontario amounting to $250,000.
CONSTATING INSTRUMENTS
The Royal Trust Company was incorporated in 1892, by Special Act of the Province of
Quebec. 55-56 Vict., chap. 79, which was amended by 55-56 Vict. (1892), chap. 80 (Q), and by
59 Vict. (1895), chap. 67 (Q), and by 63 Vict. (1900), chap. 76 (Q), 6 Edw. VII (1906), chap.
73 (0). 17 Geo. V (1927), chap. 96 (Q), 19 Geo. V (1929), chap. 104 (Q), 1-2 Elizabeth IT,
1952. Chap. 145 (O), 5 Elizabeth II. 1957, Chap. 169, 12 Elizabeth II, 1964, chap. 110.
Authorized by Special Act of Legislature of Ontario, 2 Edw. VII (1902), chap. 103, to transact
business therein as specified in Section 1 (5) of the said Act, which enacts as follows:
"(5) The Company shall be limited in respect of all business relating to property, right
or interests in the Province of Ontario, to the powers mentioned in the schedule to The
Ontario Trust Companies' Act, and shall be subject to the general provisions of the said Act
and of the general law of the said Province relating to trust companies and trusts."
Trust Companies — Detailed Reports
145
SAVINGS AND INVESTMENT TRUST COMPANY
Head Office, Quebec, P.Q.
Officers
President, H. F. Beique; General Manager, J. A. Gagnon; Secretary, A. Verge.
Directors
J. P. Tardif; H. F. Beique; A. Verge; L. F. Martel; J. Taschereau; F. Spenard; J. P.
Guimont; M. Belanger; J. P. Tremblay; J. Angers; J. Flynn; P. Cote; J. A. Gagnon.
Auditors
McDonald, Currie & Co. and Boulanger, Fortier, Rondeau & Cie.
Branch Office
Montreal.
Commenced Business in Ontario, 1962.
Capital Stock
Authorized Amount— $6,000,000. No. of Shares— 50,000 (Class A) „, „ nn
-10,000 (Class B) Par Value-$100.
Amount subscribed and paid in — 10,000 (Class A) shares
— 5,000 (Class B) shares $1,500,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Furniture, Fixtures and Leasehold Improvements $ 86,954
Loans Secured by Bonds, Stocks and Other Collateral 2,430
Bonds and Debentures $ 209,878
Interest Accrued 3,865
213,743
Stocks $ 826,281
Accrued Dividends 3,817
830,098
Cash on Hand $ 500
Cash on Deposit — Chartered Banks in Canada 10,399
10,899
Owing from Guaranteed Funds 232,366
Advances to Estates, Trusts, etc. Under Administration 70,650
Accrued Fees and Charges for Administering Estates 68,486
All Other Assets 27,095
Total Assets, Company Funds $ 1,542,721
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 8,486,271
Interest Due and Accrued 57,383
$ 8,543,654
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 217,485
Interest Accrued 8,600
226,085
Bonds and Debentures $ 6,435,800
Interest Accrued 86,041
6,521,841
146
Annual Report — Registrar of Loan and Trust Corporations
SAVINGS AND INVESTMENT TRUST COMPANY (Cont'd)
Stocks $ 896,775
Accrued Dividends 4,701
■ 901,476
Cash on Hand $ 4,330
Cash on Deposit — Chartered Banks in Canada 219,651
223,981
Other Assets 239
Total Assets, Guaranteed Funds $ 16,417,276
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 30,378
Other Assets 84,554,505
Total Assets, Estates, Trusts and Agency Funds $ 84,584,883
Liabilities
Company Funds
All Other Liabilities $ 1,131
Paid in Capital 1,500,000
Reserve Fund 40,000
Balance in Profit and Loss Account 1,590
Total Liabilities, Company Funds $ 1,542,721
Guaranteed Funds
Trust Deposits $ 1,071,675
General Guaranteed Funds 15,066,031
Interest Accrued 47,204
Owing to Company Funds 232,366
Total Liabilities, Guaranteed Funds $ 16,417,276
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 84,514,233
Owing to Company Funds 70,650
Total Liabilities, Estates, Trusts and Agency Funds $ 84,584,883
Summary
Company Funds $ 1,542,721
Guaranteed Funds 16,417,276
Estates, Trusts and Agency Funds 84,584,883
$102,544,880
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Collateral Loans $ 3,479
Bonds and Debentures 10,903
Stocks 51,045
$ 65,427
Profit in Guaranteed Funds 159,912
Fees and Commissions Earned on Estates, Trusts and Agencies 155,460
Gross Profit on Sale of Securities, Real Estate, etc 16,128
Total $ 396,927
Trust Companies — Detailed Reports 147
SAVINGS AND INVESTMENT TRUST COMPANY (Concl'd)
Expenditure
Taxes, Licenses and Fees (Excluding Income Tax and Tax on Real Estate) $ 4,864
All Other Expenses Incurred:
Advertising $ 23,619
Audit Fees 4,000
Directors' Fees 575
Legal Fees 6,724
Maintenance of Office Premises 442
Postage, Telegrams, Telephones and Express 8,530
Printing and Stationery 14,306
Rents 12,165
Salaries 170,486
Staff Pension and Group Insurance 3,416
Travelling Expenses 13,009
Miscellaneous 23,841
281,113
Provision for Depreciation 17,384
Total Expenditure Excluding Income Taxes $ 303,361
Net Profit Transferred to Profit and Loss Account 93,566
$ 396,927
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 4,048
Add:
Amount Transferred from Revenue Account 93,566
$ 97,614
Deduct:
Dividends to Shareholders Declared During Year 50,000
Amount Transferred to General Contingency Reserve 15,000
Commissions paid in Advance 31,024
Balance at December 31, 1965 $ 1,590
MISCELLANEOUS
Dividends and bonuses declared during year — $5.00 per share.
All employees of the Company are covered under a bond for $1,000,000.
Amounts belonging to estates, trusts and agency funds in guaranteed fund — $580,761.
The Company has on deposit with the Province of Ontario securities amounting to $203,000.
CONSTATING INSTRUMENTS
The Company was incorporated on October 26, 1960, by issue of Letters Patent under The
Trust Companies Act, R.S. 1941, c. 284.
Registered as a Trust Company in Ontario, March 21, 1962.
Capital Stock authorized was amended by supplementary Letters Patent on May 20, 1964,
to fifty thousand class 4 A' and ten thousanad class 'B' shares with a par value of $100 each.
148
Annual Report — Registrar of Loan and Trust Corporations
THE STERLING TRUSTS CORPORATION
Head Office, Toronto, Ont.
Officers
President, N. F. Petersen; General Manager, T. G. Taylor; Secretary, F. C. Beveridge.
Directors
S. B. Adams; R. T. Berks; R. Bigelow; H. T. Burgess; W. A. Dilworth; L. Johnson;
J. R. Lovatt; E. R. Meredith; N. F. Petersen; C. J. Seagram; A. W. White; R. I. Hendy;
H. D. Langdon; N. H. Bell.
Auditors
Peat, Marwick, Mitchell & Co.
Branch Offices
Barrie, Regina, Orillia.
Commenced Business in Ontario, 1913.
Capital Stock
Authorized Amount— $2,000,000. No. of Shares— 200,000. Par Value— $10.
Amount subscribed and paid in — 1 1 2,824 shares $1,1 28,240
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Office Premises $ 207,471
Furniture, Fixtures and Leasehold Improvements 10,358
Real Estate held for sale 10,639
Mortgage Loans on Real Estate:
First Mortgages $ 304,968
Interest Due and Accrued 2,587
■ 307,555
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 72,729
Interest Accrued 928
. 73,657
Bonds and Debentures $ 1,319,163
Interest Accrued 19,613
. 1,338,776
Stocks $ 741,635
Accrued Dividends 4,473
746,108
Cash on Hand $ 16,456
Cash on Deposit — Chartered Banks in Canada 57,967
. 74,423
Advances to Estates, etc. Under Administration 64,229
All Other Assets 3,712
Total Assets, Company Funds $ 2,836,928
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 22,002,854
Interest Due and Accrued 282,237
$ 22,285,091
Trust Companies — Detailed Reports
149
THE STERLING TRUST CORPORATION (Cont'd)
Loans Secured! by Bonds, Stocks and Other Collateral:
Principal $ 304,092
Interest Accrued 4,573
■ 308,665
Bonds and Debentures $ 7,240,662
Interest Accrued 115,482
7,356,144
Stocks $ 250,046
Accrued Dividends 2,366
■ 252,412
Cash on Deposit — Chartered Banks in Canada $ 94,096
—Elsewhere 813,206
■ 907,302
Total Assets, Guaranteed Funds $ 31,109,614
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 653,659
Other Assets 16,949,209
Total Assets, Estates, Trusts and Agency Funds $ 17,602,868
Liabilities
Company Funds
Taxes Other than on Real Estate $ 21,872
Dividends Payable 56,412
Investment Reserves 185,978
All Other Liabilities 16,999
$ 281,261
Paid in Capital 1,128,240
Reserve Fund 1,375,000
Balance in Profit and Loss Account 52,427
Total Liabilities, Company Funds $ 2,836,928
Guaranteed Funds
Trust Deposits $ 6,559,729
General Guaranteed Funds 24,219,026
Interest Accrued 330,859
Total Liabilities, Guaranteed Funds $ 31,109,614
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 17,538,639
Owing to Company Funds 64,229
Total Liabilities, Estates, Trusts and Agency Funds $ 17,602,868
Summary
Company Funds $ 2,836,928
Guaranteed Funds 3 1 , 1 09,6 1 4
Estates, Trusts and Agency Funds 17,602,868
150
Annual Report — Registrar of Loan and Trust Corporations
THE STERLING TRUST CORPORATION (Cont'd)
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 9,473
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 12,818
Collateral Loans 3,698
Bonds and Debentures 64,837
Stocks 35,698
Other Assets 4,308
121,359
Profit in Guaranteed Funds 502,194
Fees and Commissions Earned on Estates, Trusts and Agencies 182,899
Gross Profit on Sale of Securities, Real Estate, etc 73,553
All Other Income 1,745
Total $ 891,223
Expenditure
Taxes, Licenses and Fees (Excluding Income Tax and Tax on Real Estate) $ 7,359
Commission on Loans 8,658
All Other Expenses Incurred:
Advertising $ 24,286
Audit Fees 4,900
Directors' Fees 8,525
Furniture and Fixtures 2,088
Maintenance of Office Premises 1,328
Postage, Telegrams, Telephones and Express 8,018
Printing and Stationery 12,371
Rents 35,469
Salaries 282,791
Staff Pension and Group Insurance 10,402
Travelling Expenses 6,263
Miscellaneous 23,787
. 420,228
Gross Loss on Sale of Securities and Real Estate 487
Provision for Depreciation 11,426
Total Expenditure Excluding Income Taxes $ 448,158
Provision for Income Taxes 133,500
Net Profit Transferred to Profit and Loss Account 309,565
$ 891,223
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 53,663
Add:
Amount Transferred from Revenue Account 309,565
$ 363,228
Deduct:
Dividends to Shareholders Declared During Year 191,801
Amount Transferred to Mortgage Reserve 94,000
Amount Transferred to Reserve Fund 25,000
Balance at December 31, 1965 $ 52,427
Trust Companies — Detailed Reports
151
THE STERLING TRUST CORPORATION (Concl'd)
MISCELLANEOUS
Dividends and bonuses declared during the year — $1.70 per share.
The officers and employees of the Company are covered by a broker's blanket bond for $400,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed fund — $631,283.
CONSTATING INSTRUMENTS
The Sterling Trusts Corporation was incorporated May 19, 1911, by Special Act of Parlia-
ment of Canada, 1-2 Geo. V, chap. 144.
The original Head Office of the Company was at Regina, in the Province of Saskatchewan.
By Order-in-Council (D), Head Office was changed to the City of Toronto, in the Province
of Ontario.
Registered on the Trust Companies' Register, December 1, 1913.
By an Act of the Parliament of Canada, 17 Geo. V, chap. 94, April 14, 1927, the authorized
capital stock of the Corporation was increased from $1,000,000 to $2,000,000.
By-law No. 23 passed by the directors of the Company on 31 October, 1961, and confirmed
at a Special General Meeting of the shareholders held 14 November, 1961, the 100,000 shares
of a par value of $20,00 each of the capital stock of the Company were subdivided into 200,000
shares of $10.00 each.
152
Annual Report — Registrar of Loan and Trust Corporations
VICTORIA AND GREY TRUST COMPANY
Head Office, Lindsay, Ont.
Officers
President, W. Harris; General Manager and Secretary, R. G. Thomas.
Directors
E. N. Cooper; S. A. Flavelle; C. G. Fleming; G. D. Fleming; J. G. Fraser; L. M. Frost;
W. Harris; T. A. Kidd; W. B. Lemon; H. J. McLaughlin; W. L. Moore; G. A. Morton; F. G.
Perrin; J. R. Sinclair; R. H. Soward; J. R. Anderson; K. B. Clysdale; W. H. Gregory;
S. K. Ireland; H. B. Kenner; H. R. Lawson; R. N. McLaughlin; K. W. Taylor.
Auditors
Gaviller and Company; Gunn, Roberts and Company.
Branch Offices
Belleville, Cannington, Kingston, Lindsay, Meaford, Owen Sound, Orillia, Peterborough,
Whitby, Brampton, Exeter, Goderich, Hanover, Listowel, Newmarket, Port Credit, Renfrew,
Richmond Hill, St. Marys, Stratford, Toronto.
Commenced Business in Ontario, 1950 (see constating instruments).
Capital Stock
Authorized Amount— $20,000,000: 5% Cumulative Redeemable — 200,000 shares par $50.00 —
$10,000,000.
Common Shares — 5,000,000 shares par $2.00 —
$10,000,000.
Amount subscribed and paid in: preferred none
common— 1,391,062 shares $2,782,124
BALANCE SHEET AS AT OCTOBER 31, 1965
Assets
(at Book Value)
Company Funds
Office Premises $ 3,241,600
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 870,558
Agreements of Sale 80,881
Interest Due and Accrued 18,655
970,094
Bonds and Debentures 34,000
Stocks 3,954,157
Cash on Deposit — Chartered Banks in Canada 414,005
Advances to Estates, Trusts, etc. Under Administration 47,525
All Other Assets 457,495
Excess of cost of Assets acquired upon Amalgamation over
Amounts Allocated to Assets Included in other Balance Sheet Classifications 5,158,873
Total Assets, Company Funds $ 14,277,749
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $181,930,273
Second Mortgages 1,842,219
Interest Due and Accrued 3,520,892
$187,293,384
Real Estate Held for Sale 2,027,922
Real Estate Held for Investment 1,007,587
Trust Companies — Detailed Reports
153
VICTORIA AND GREY TRUST COMPANY (Cont'd)
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 1,426,121
Interest Accrued 18,145
■ 1,444,266
Bonds and Debentures $ 37,433,219
Interest Accrued 454,235
37,887,454
Stocks 4,381,777
Cash on Hand $ 710,563
Cash on Deposit — Chartered Banks in Canada 2,459,881
3,170,444
Total Assets, Guaranteed Funds $237,212,834
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 3,064,808
Other Assets 35,234,392
Total Assets, Estates, Trusts and Agency Funds $ 38,299,200
Liabilities
Company Funds
Taxes Other than on Real Estate $ 66,772
Dividends Payable 173,883
Investment Reserves 3,144,738
All Other Liabilities 22,450
$ 3,407,843
Paid in Capital 2,782,124
Reserve Fund 7,946,261
Balance in Profit and Loss Account 141,521
Total Liabilities, Company Funds $ 14,277,749
Guaranteed Funds
Trust Deposits $ 61,181,878
General Guaranteed Funds 173,022,413
Interest Accrued 3,008,543
Total Liabilities, Guaranteed Funds $237,212,834
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 38,251,675
Owing to Company Funds 47,525
Total Liabilities, Estates, Trusts and Agency Funds $ 38,299,200
Summary
Company Funds $ 14,277,749
Guaranteed Funds 237,212,834
Estates, Trusts and Agency Funds 38,299,200
$289,789,783
154
Annual Report — Registrar of Loan and Trust Corporations
VICTORIA AND GREY TRUST COMPANY (Cont'd)
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 65,169
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 57,393
Bonds and Debentures 126,492
Stocks 376,710
Other Assets 1,765
. 562,360
Profit in Guaranteed Funds 2,724,790
Fees and Commissions Earned on Estates, Trusts and Agencies 185,283
Gross Profit on Sale of Securities, Real Estate, etc 34,050
All Other Income 105,262
Amount by which Ledger Values of Assets were written up 44,477
Total $ 3,721,391
Expenditure
Interest Incurred During the Year $ 29,999
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estatee 64,338
Commission on Loans 168,559
All Other Expenses Incurred:
Advertising $ 47,746
Audit Fees 13,800
Directors' Fees 44,005
Legal Fees 1,962
Maintenance of Office Premises 69,112
Postage, Telegrams, Telephones and Express 42,774
Printing and Stationery 47,406
Rents 9,936
Salaries 826,338
Staff Pension and Group Insurance 40,088
Travelling Expenses 27,951
Miscellaneous 146,163
. 1,317,281
Gross Loss on Sale of Securities and Real Estate 33,831
Provision for Depreciation 100,375
Total Expenditure excluding Income Taxes $ 1,714,383
Provision for Income Taxes 475,525
Net Profit Transferred to Profit and Loss Account 1,531,483
$ 3,721,391
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 95,700
Add:
Amount Transferred from Revenue Account 1,531,483
$ 1,627,183
Deduct:
Dividends to Shareholders Declared During Year 817,250
Amount Transferred to Mortgage Reserve 668,412
Balance at October 31, 1965 $ 141,521
Trust Companies — Detailed Reports
155
VICTORIA AND GREY TRUST COMPANY (Concl'd)
MISCELLANEOUS
Dividends and bonuses declared during the year — 60V^c. per share.
The officers and employees of the Company are covered by a Trust Company blanket bond for
$1,000,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed fund — $3,295,958.
CONSTATING INSTRUMENTS
The Victoria Trust and Savings Company.
Incorporated on September 4, 1897, under the Building Societies Act, 1887, c. 169, as
amended by 56 Vic. c. (3 1 (o)), by declaration filed with the Clerk of the Peace for the County
of Victoria under the name of The Victoria Loan and Savings Company.
By Letters Patent of Ontario, dated November 11, 1898, (56 Vic. c. 31) continued by R.S.O.
1897 (c. 4) the Company was relieved from restrictions which confined its operations to Victoria
County.
By Special Act (Ontario), dated October 1, 1923, 13-14 Geo. V, c. 107 the Company was
granted the powers of a trust company and the name was changed to The Victoria Trust and
Savings Company. (The Loan and Trust Corporations Act, R.S.O. 1937, c. 257).
The Grey and Bruce Trust and Savings Company.
Incorporated on April 1, 1889, under the Building Societies Act, 1887, c. 169 by declaration
filed with the Clerk of the Peace for the County of Grey under the name of The Owen Sound
Building and Savings Society.
On May 10, 1889 The Owen Sound, Grey and Bruce Loan and Savings Company was in-
corporated under the same Act by declaration filed with the Clerk of the Peace for the County
of Grey. The name was changed to The Grey and Bruce Loan Company by Order-in-Council
(Ontario) dated September 15, 1897.
By Special Act 16, George V, c. 123 dated May 1, 1926 the amalgamation of The Grey and
Bruce Loan Company and The Owen Sound Loan and Savings Company was confirmed under
the name of The Grey and Bruce Trust and Savings Company and empowered to carry on the
business of a trust company under The Loan and Trust Corporations Act.
Victoria and Grey Trust Company.
By Order-in-Council dated November 9, 1950, the amalgamation of The Victoria Trust and
Savings Company and The Grey and Bruce Trust and Savings Company was confirmed under
the name of Victoria and Grey Trust Company and empowered to carry on the business of a trust
company under The Loan and Trust Corporations Act.
By Order-in-Council dated April 19, 1956, confirming By-law A-7, the Capital Stock was
increased from $2,500,000 to $3,500,000 by the creation of 100,000 additional shares having a
par value of $10.00 under Section 58 of The Loan and Trust Corporations Act, being Chapter 214
of the Revised Statutes of Ontario, 1950.
By Order-in-Council dated March 21, 1963, confirming By-law A- 13, the Company sub-
divided each of its shares having a par value of $10 into 5 shares, each having a par value of $2.
British Mortgage and Trust Company.
The British Mortgage Loan Company of Ontario was incorporated by Letters Patent of
Ontario, dated October 5, 1877 (Lib. 5, No. 52), issued under R.S.O. 1877, c. 150, which Act was
continued by R.S.O. 1887, c. 157, and was as to Loan Corporations superseded by 60 Vic, c. 38 (O),
now The Loan and Trust Corporations Act.
By 16 George V, c. 121, the Company was given trust company powers and its name changed
to the British Mortgage and Trust Corporation of Ontario.
The lending and the borrowing powers of the Company are derived from its Letters Patent
and the above public general statute.
By Order-in-Council on the 8th day of May, 1958, the name of this Company was changed to
British Mortgage & Trust Company.
By Orders-in-Council, in 1961 and 1962, Company was permitted to construct office premises
larger than required for its own needs.
By Order-in-Council dated January 24, 1963, each of the Company's shares having a par value
of $100 was subdivided into 20 shares, each share having a par value of $5.
By Order-in-Council, dated September 16, 1965, the Lieutenant Governor gave assent to an
agreement dated July 27, 1965, whereunder Victoria and Grey Trust Company and British Mortgage
and Trust Company agreed to amalgamate under the terms and subject to the conditions therein
set out, the amalgamated company to be called Victoria and Grey Trust Company, with authorized
capital of $20 million, divided into 200,000 5% cumulative redeemable preference shares each of
$50 par value, and 5 million common shares each of $2 par value. The amalgamation to be effective
September 30, 1965.
156
Annual Report — Registrar of Loan and Trust Corporations
THE WATERLOO TRUST AND SAVINGS COMPANY
Head Office, Kitchener, Ont.
Officers
President and General Manager, W. A. Bean; Secretary, F. M. Hearn.
Directors
W. A. Bean; G. M. Bray; D. W. Brown; G. H. Dobbie; P. R. Hilborn; H. L. McCullock;
W. J. McGibbon; H. S. Matthews; J. E. Motz; C. A. Pollock; E. A. Rieder; G. E. Robertson;
J. W. Scott; J. E. F. Seagram; T. B. Seagram; J. K. Sims; M. J. Smith; A. S. Upton; C. N.
Weber; P. V. Wilson; D. McIntosh; W. W. Foot; E. G. Schafer.
Auditors
Clarkson, Gordon & Co.
Branch Offices
Kitchener, Preston, Gait, Elmira, Waterloo, Guelph.
Commenced Business in Ontario, April, 1913.
Capital Stock
Authorized Amount— $5,000,000. No. of Shares— 1,000,000. Par Value— $5.
Amount subscribed and paid in — 660,000 shares $3,300,000
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Office Premises $ 1,492,623
Furniture, Fixtures and Leasehold Improvements 245,675
Real Estate Held for Sale 158,386
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 820,347
Interest Accrued 11,493
831,840
Bonds and Debentures $ 1,128,770
Interest Accrued 15,609
■ 1,144,379
Stocks 3,181,317
Cash on Hand 188,999
Advances to Estates, Trusts, etc. Under Administration 239,832
All Other Assets 51,896
Total Assets, Company Funds $ 7,534,947
Guaranteed Funds
Mortgage Loans on Real Estate:
First Mortgages $ 78,811,874
Interest Due and Accrued 471,971
$ 79,283,845
Loans Secured by Bonds, Stocks and Other Collateral:
Principal $ 1,467,650
Interest Accrued 23,348
1,490,998
Bonds and Debentures $ 53,289,727
Interest Accrued 698,464
53,988,191
Trust Companies — Detailed Reports 157
THE WATERLOO TRUST AND SAVINGS COMPANY (Cont'd)
Cash on Hand $ 983,923
Cash on Deposit — Chartered Banks in Canada 1,493,536
— Elsewhere 280,747
2,758,206
Total Assets, Guaranteed Funds $137,521,240
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 2,288,1 16
Other Assets 69,541,229
Total Assets, Estates, Trusts and Agency Funds $ 71,829,345
Liabilities
Company Funds
Taxes Other than on Real Estate $ 175,985
Dividends Payable 99,000
All Other Liabilities 22,892
$ 297 877
Paid in Capital 3,300,000
Reserve Fund 3,800,000
Balance in Profit and Loss Account 137,070
Total Liabilities, Company Funds $ 7,534,947
Guaranteed Funds
Trust Deposits $ 67,305,439
General Guaranteed Funds 68,701,707
Interest Accrued 1,514,094
Total Liabilities, Guaranteed Funds $137,521,240
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 71,589,513
Owing to Company Funds 239,832
Total Liabilities, Estates, Trusts and Agency Funds $ 71,829,345
Summary
Company Funds $ 7,534,947
Guaranteed Funds 137,521,240
Estates, Trusts and Agency Funds 71,829,345
$216,885,532
REVENUE ACCOUNT
Income
Net Rents Earned on Office Premises $ 154,656
Interest and Dividends Earned on:
Collateral Loans $ 50,167
Bonds and Debentures 52,175
158
Annual Report — Registrar of Loan and Trust Corporations
THE WATERLOO TRUST AND SAVINGS COMPANY (Cont'd)
Stocks 131,425
Bank Deposits 833
Other Assets 15,324
249,924
Profit in Guaranteed Funds 2,519,689
Fees and Commissions Earned on Estates, Trusts and Agencies 500,058
Gross Profit on Sale of Securities, Real Estate, etc 17,243
All Other Income 184,719
Total $ 3,626,289
Expenditure
Interest Incurred During the Year $ 2,743
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) 30,482
Commission on Loans 78,995
All Other Expenses Incurred:
Advertising $ 110,870
Audit Fees 10,616
Directors' Fees 23,375
Legal Fees 883
Postage, Telegrams, Telephones and Express 34,340
Printing and Stationery 57,073
Rents 341,099
Salaries 1,158,362
Staff Pension and Group Insurance 59,582
Travelling Expenses 17,347
Miscellaneous 78,707
1,892,254
Provision for Depreciation 130,000
Amount Transferred to Investment Reserves 454,000
Total Expenditure excluding Income Taxes $ 2,588,474
Provision for Income Taxes 578,500
Net Profit Transferred to Profit and Loss Account 459,315
$ 3,626,289
PROFIT AND LOSS ACCOUNT
Balance Brought Forward from Previous Year $ 107,755
Add:
Amount Transferred from Revenue Account 459,315
$ 567,070
Deduct:
Dividends to Shareholders Declared During Year 330,000
Amount Transferred to Reserve Fund 100,000
Balance at December 31, 1965 $ 137,070
MISCELLANEOUS
Dividends and bonuses declared during the year — 50c. per share.
The officers and employees of the Company are covered under a brokers' blanket bond for
$1,000,000 with excess coverage $4,000,000.
Amounts belonging to estates, trusts and agency funds held in guaranteed funds — $1,437,657.
Trust Companies — Detailed Reports
159
THE WATERLOO TRUST AND SAVINGS COMPANY (Concl'd)
CONSTATING INSTRUMENTS
Originally incorporated as a Loan Corporation by Letters Patent 7th April, 1913, under
The Loan and Trust Corporation Act, 2 George V, 1912, chap. 34, now R.S.O. 1937, chap. 257,
the original corporate name was The Waterloo County Loan and Savings Company.
By a Special Act of the legislature of Ontario, 12-13, Geo. V, c. 148, the Company was
granted the powers of a Trust Company and the name was changed to The Waterloo Trust and
Savings Company. Assented to May 4th, 1922.
An Order-in-Council was granted August 1st, 1922, empowering the Courts to appoint The
Waterloo Trust and Savings Company as trustee, administrator, etc., without security. (R.S.O.
1937, c. 257, sec. 21, or acts for which the same was submitted.)
An Order-in-Council approved whereby trustees may entrust The Waterloo Trust and
Savings Company with trust funds for guaranteed investment as set out in The Loan and Trust
Corporations Act, in accordance with the provision of the Trustee Act, 16 Geo. V, c. 40, sec. 27;
R.S.O. 1937, c. 165, sec. 26.
Order-in-Council confirmed on the 20th day of March, 1952, approving subdivision of the
shares of the capital stock of the Company of a par value of $100.00 each into five shares of the
par value of $20.00 each, under Section 58 of The Loan and Trust Corporations Act being Chapter
214 of the Revised Statutes of Ontario, 1950.
Order-in-Council on the 14th day of February, 1957, confirming the By-law to increase the
capital stock of the Company from $2,000,000 to $5,000,000 by the creation of 150,000 shares of
$20.00 each under Section 58 of The Loan and Trust Corporations Act being chapter 214 of the
Revised Statutes of Ontario, 1950.
Order-in-Council on the 5th day of March, 1964, confirming the By-law to subdivide each
share of the Company having a par value of $20, into four shares each having a par value of $5.
160
Annual Report — Registrar of Loan and Trust Corporations
YORK TRUST AND SAVINGS CORPORATION
Head Office, Toronto, Ont.
Officers
Chairman of the Board, J. E. Coyne; President, S. M. Stevens; Managing Director and
Secretary, P. B. MacDonald.
Directors
S. M. Stevens; P. B. MacDonald; G. H. Dickson; J. A. Chiappetta; R. J. Hassard;
R. J. H. Stanbury; A. J. Thomas; C. F. O'Neill; J. E. Coyne.
Auditors
Humpage, Taylor, McDonald & Co.
Offices
Toronto, Guelph.
Commenced Business in Ontario December 6, 1962.
CAPITAL STOCK
Authorized Amount— $10,000,000. No. of Shares— 1,000,000. Par Value — $10.
Amount subscribed and paid-in — 423,333 shares $ 3,985,830
BALANCE SHEET AS AT DECEMBER 31, 1965
Assets
(at Book Value)
Company Funds
Office Premises $ 439,939
Mortgage Loans on Real Estate and Agreements of Sale:
First Mortgages $ 1,952,820
Interest Due and Accrued 17,620
1,970,440
Bonds and Debentures $ 7,976,841
Interest Accrued 106,105
8,082,946
Stocks 1,741,057
Cash on Hand $ 3,195
Cash on Deposit — Chartered Banks in Canada 23,985
■ 27,180
Owing from Guaranteed Funds 413,485
All Other Assets 398,095
Total Assets, Company Funds $ 13,073,142
Guaranteed Funds
Mortgage Loans on Real Estate :
First Mortgages $ 55,237,071
Interest Due and Accrued 492,98 1
Loans Secured by Bonds, Stocks and Other Collateral:
Principal
Interest Accrued
Bonds and Debentures
Interest Accrued
Cash on Hand
Cash on Deposit — Chartered Banks in Canada
— Elsewhere
$
4,046,703
41,465
$
1,620,662
17,448
$
437,919
3,293,073
20,000
$ 55,730,052
4,088,168
1,638,110
3,750,992
Total Assets, Guaranteed Funds
$ 65,207,322
Trust Companies — Detailed Reports 161
Estates, Trusts and Agency Funds
Cash on Hand and in Banks $ 130,517
Others Assets 13,314,765
Total Assets, Estates, Trusts and Agency Funds $ 13,445,282
Liabilities
Company Funds
Borrowed Money (secured) $ 7,973,473
Taxes other than on Real Estate 4,437
All Other Liabilities 116,713
$ 8,094,623
Paid-in Capital $ 3,985,830
Reserve Fund 900,000
Balance in Profit and Loss Account 92,689
Total Liabilities, Company Funds $ 13,073,142
Guaranteed Funds
Trust Deposits $ 17,522,637
General Guaranteed Funds 23,761,379
Specific Guaranteed Funds 22,900,000
Interest Accrued 609,821
Owing to Company Funds 413,485
Total Liabilities, Guaranteed Funds $ 65,207,322
Estates, Trusts and Agency Funds
Estates, Trusts and Agency Funds $ 13,445,282
Summary
Company Funds $ 13,073,142
Guaranteed Funds 65,207,322
Estates, Trusts and Agency Funds 13,445,282
$ 91,725,746
REVENUE ACCOUNT
Income
Interest and Dividends Earned on:
Mortgages and Agreements of Sale $ 53,279
Collateral Loans 48
Bonds and Debentures 96,323
Stocks 26,999
$ 176,649
Profit in Guaranteed Funds 996,101
Fees and Commissions Earned on Estates, Trusts and Agencies 77,279
Gross Profit on Sale of Securities, Real Estate, etc 38,660
All Other Income 48,497
Total $ 1,337,186
162
Annual Report — Registrar of Loan and Trust Corporations
Expenditure
Interest Incurred during the year $ 1,475
Taxes, Licenses and Fees (excluding Income Tax and Tax on Real Estate) 19,992
All Other Expenses Incurred:
Advertising $ 232,584
Audit Fees 12,000
Directors' Fees 3,750
Legal Fees 5,353
Maintenance of Office Premises 18,654
Postage, Telegrams, Telephones and Express 45,861
Printing and Stationery 48,640
Rents 89,830
Salaries 523,921
Staff Pension and Group Insurance 15,225
Travelling Expenses 7,376
Miscellaneous 82,102
1,085,296
Gross Loss on Sale of Securities and Real Estate 14,180
Provision for Depreciation 95,698
Total Expenditure $ 1,216,641
Net Profit Transferred to Profit and Loss Account 120,545
$ 1,337,186
PROFIT AND LOSS ACCOUNT
Balance brought forward from previous year $ 164,811
Add:
Amount transferred from Revenue Account 120,545
Amount transferred from General Reserve 100,000
Amount transferred from Mortgage Reserve 89,636
$ 474,992
Deduct:
Mortgage origination fees — written off 192,667
Amount transferred to Mortgage Reserve 100,000
Premium on acquisition of mortgages — written off 89,636
Balance at December 31, 1965 $ 92,689
MISCELLANEOUS
The officers and employees of the Company are covered under bond for $2,000,000.
CONSTATING INSTRUMENTS
Incorporated as a Trust Company by Letters Patent dated October 11th, 1962, under The
Loan and Trust Corporations Act, R.S.O. 1960, Chapter 222; Head Office at Toronto. Registered
as a Trust Company December 6th, 1962.
Order-in-Council 1963 to increase authorized capital from $2,000,000 to $10,000,000.
Tabulated Summaries of the Statements
(SUBJECT TO CORRECTION)
FILED BY LOAN AND TRUST CORPORATIONS
PURSUANT TO SECTION 152 OF
THE LOAN AND TRUST CORPORATIONS ACT
FOR THE YEAR ENDED DECEMBER 31
1965
165
LOAN CORPORATIONS
ASSETS
LIABILITIES
SHAREHOLDERS EQUITY
UNDIVIDED PROFITS
REVENUE
EXPENDITURE
167
168
Annual Report
— Registrar of Loan and Trust Corporations
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Summaries
MORTGAGES AND AGREEMENTS ON REAL ESTATE, CLASSIFIED AS TO PROVINCES:
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B. Trust Companies (Company Funds)
C. Trust Companies (Guaranteed Funds)
COMPARATIVE SUMMARY OF ASSETS AND LIABILITIES OF:
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B. Trust Companies (Company Funds)
C. Trust Companies (Guaranteed Funds)
COMPARATIVE SUMMARY OF INCOME AND EXPENDITURES OF LOAN AND TRUST
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191
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— Registrar of Loan and Trust Corporations
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200
Annual Report — Registrar of Loan and Trust Corporations
COMPARATIVE SUMMARY OF ASSETS AND
ASSETS AND LIABILITIES
ASSETS
Real Estate
Mortgages and Agreements
Collateral Loans
Bonds
Stocks
Interest Due and Accrued and Dividends
Cash
Other
Total Assets
LIABILITIES
To the Public
Debentures
Deposits
Accrued Interest
Dividends
Other
Totals
To Shareholders
Capital Stock, Permanent
Reserve Fund and Contingency Reserve ...
Undivided Profits and Contributed Surplus
Totals
Total Liability to the Public and
Shareholders
1960
Amount
11,718,168
470,676,198
1,417,518
72,752,890
25,699,307
9,963,145
779,447
593,006,673
362,552,035
135,395,552
830,064
15,004,421
513,782,072
31,985,611
44,130,474
3,108,516
79,224,601
593,006,673
Percent
to
Total
Assets
1.97
79.37
.24
12.27
4.34
100.00
61.14
22.83
.14
2.53
86.64
5.40
7.44
.52
13.36
100.00
1961
Amount
13,072,710
546,558,065
5,422,841
87,474,313
35,871,127
5,992,808
14,675,013
3,333,397
712,400,274
420,348,504
180,845,347
9,148,549
839,813
9,223,757
620,405,970
33,553,177
54,974,967
3,466,160
91,994,304
712,400,274
Comparative Summaries
201
LIABILITIES OF LOAN CORPORATIONS
1962
1963
1964
1965
♦
Percent
Percent
Percent
Percent
Amount
to
Amount
to
Amount
to
Amount
to
Total
Total
Total
Total
Ref.
Assets
Assets
Assets
Assets
No.
$
%
$
%
$
%
$
%
16,934,913
1.98
21,968,076
2.14
23,986,492
1.81
29,505,021
1.88
1
661,872,506
77.60
806,345,179
78.73
1,032,653,558
78.13
1,259,865,353
80.27
2
10,017,175
1.17
6,312,855
.62
5,603,132
.42
11,977,395
.76
3
96,751,558
11.34
107,673,806
10.51
131,550,128
9.95
127,433,692
8.12
4
38,093,796
4.47
46,970,900
4.59
51,273,899
3.88
58,551,771
3.73
5
7,817,504
.92
9,509,085
.93
12,036,829
.91
18,553,115
1.18
6
15,657,613
1.84
16,157,759
1.58
54,155,839
4.10
45,640,400
2.91
7
5,791,432
.68
9,242,773
.90
10,609,443
.80
18,041,476
1.15
8
852,936,497
100.00
1,024,180,433
100.00
1,321,869,320
100.00
1,569,568,223
100.00
505,254,247
59.24
571,369,827
55.79
702,685,432
53.16
861,896,947
54.91
9
225,090,762
26.39
270,837,514
26.44
370,650,412
28.04
398,827,795
25.41
10
11,502,853
1.35
14,050,560
1.37
16,509,854
1.25
20,012,344
1.28
11
1,105,407
.13
1,268,458
.12
1,447,829
.11
1,713,056
.11
12
11,824,862
1.38
48,499,490
4.74
92,603,205
7.00
123,233,767
7.85
13
754,778,131
88.49
906,025,849
88.46
1,183,896,732
89.56
1,405,683,909
89.56
37,195,777
4.36
47,475,357
4.64
61,175,971
4.63
69,511,103
4.43
14
57,228,834
6.71
65,092,945
6.36
70,861,061
5.36
86,332,703
5.50
15
3,733,755
.44
5,586,282
.54
5,935,556
.45
8,040,508
.51
16
98,158,366
11.51
118,154,584
11.54
137,972,588
10.44
163,884,314
10.44
852,936,497
100.00
1,024,180,433
100.00
1,321,869,320
100.00
1,569,568,223
100.00
202
Annual Report — Registrar of Loan and Trust Corporations
COMPARATIVE SUMMARY OF ASSETS AND
Company
ASSETS AND LIABILITIES
Totals
To Shareholders
Capital Stock, Permanent
Reserve Funds and Contingency Reserve
Undivided Profits and Contributed Surplus
Totals
Total Liability to the Public and
Shareholders
ASSETS
Real Estate
Mortgages and Agreements
Collateral Loans
Bonds
Stocks
Cash
Advance to Estates and Guaranteed Funds
Accrued Income and Other Assets
Total Assets
LIABILITIES
To the Public
Dividends declared and unpaid
All other Liabilities
1960
1961
Percent
Percent
Amount
to
Amount
to
Total
Total
A rcCTC
$
%
$
%
12,708,120
11.00
18,191,616
13.47
10,171,105
8.80
11,728,505
8.69
5,678,973
4.92
6,634,783
4.91
36,165,202
31.29
38,977,239
28.86
31,710,701
27.44
38,050,061
28.17
7,655,395
6.62
6,794,627
5.04
6.18
7,OJU,7Ll
7.29
4,331,222
3.75
4,816,172
3.57
115,565,438
100.00
135,043,924
100.00
1,UoZ,j41
.7Z
936 062
.69
14,441,029
12.50
17,587,513
13.03
15,503,570
13.42
18,523,575
13.72
39,052,165
33.79
42,488,590
31.46
54,334,170
47.02
68,156,958
50.47
6,675,533
5.77
5,874,801
4.35
100,061,868
86.58
116,520,349
86.28
115,565,438
100.00
135,043,924
100.00
Comparative Summaries
203
LIABILITIES OF TRUST COMPANIES
Funds
1962
1963
1964
1965
Percent
Percent
Percent
Percent
Amount
to
Amount
to
Amount
to
Amount
to
Total
Total
Total
Total
Ref.
Assets
Assets
Assets
-r- -
Assets
No.
$
%
$
%
$
%
$
21,889,571
14.35
24,344,994
13.83
26,014,732
12.25
37,620,674
15.64
1
12,067,202
7.91
17,234,658
9.79
22,439,983
10.56
21,644,704
9.00
2
4,630,151
3.04
3,650,260
2.07
4,512,713
2.12
4,938,570
2.05
3
40,981,782
26.87
46,192,278
26.25
64,715,950
30.47
67,693,468
28.14
4
42,919,176
28.14
48,621,599
27.63
52,445,416
24.69
63,844,997
26.54
5
11,202,990
7.34
16'288i664
9.26
13,699,200
6.45
15,490,284
6.44
6
10,936,222
7.17
10,154,297
5.77
16,568,678
7.80
17,307,431
7.19
7
7,894,886
5.18
9,512,544
5.40
12,006,799
5.66
12,031,464
5.00
8
152,521,980
100.00
175,999,294
100.00
212,403,471
100.00
240,571,592
100.0
1,168,667
.77
1,267,451
.72
1,470,777
.69
1,741,649
.72
9
13,438,232
8.81
17,453,613
9.92
21,795,140
10.26
30,899,045
12.85
10
14,606,899
9.58
18,721,064
10.64
23,265,917
10.95
32,640,694
13.57
48,785,715
31.99
54,660,656
31.06
66,724,295
31.41
69,425,422
28.86
11
81,485,801
53.43
95,078,937
54.02
112,664,834
53.04
129,804,432
53.96
12
7,643,565
5.0
7,538,637
4.28
9,748,425
4.60
8,687,756
3.61
13
137,915,081
90.42
157,278,230
89.36
189,137,554
89.05
207,917,610
86.43
152,521,980
100.00
175,999,294
100.00
212,403,471
100.00
240,558,304
100.00
204
Annual Report —
Registrar of Loan and Trust Corporations
COMPARATIVE SUMMARY OF ASSETS AND
Guaranteed
1960
1961
ASSETS AND LIABILITIES
Percent
Percent
Ref.
Amount
to
Amount
TO
No.
Total
Total
A ccptc
A CCUTC
njjL i o
▲ssnrra
$
%
$
%
1
Mortgages and Agreements
435,568,348
39.50
585,840,648
42.41
2
Collateral Loans
45,685,309
4.11
50,495,334
3.66
3
580,411,905
52.28
691,613,710
50.07
4
5,300,918
.48
7,389,535
.53
5
Cash
30,452,214
2.74
33,932,489
2.46
6
Accrued Income and Other Assets
9,898,244
.89
12,054,298
.87
Total Assets
1,110,316,938
100.00
1,381,326,014
100.00
LIABILITIES
7
416,569,084
37.52
524,137,279
37.94
8
Guaranteed Funds
686,095,383
61.79
845,720,172
61.23
9
Due to Company Funds
280,321
.03
955,272
.07
10
Investment Reserves
1,114,004
.10
3,187,524
.23
11
Accrued Interest
6,258,146
.56
7,325,767
.53
Total Liabilities
1,110,316,938
100.00
1,381,326,014
100.00
ESTATES, TRUSTS AND AGENCY FUNDS
7,068,900,652
7,815,792,331
Comparative Summaries
205
LIABILITIES OF TRUST COMPANIES
Funds
1962
1963
1964
1965
Percent
Percent
Percent
Percent
Amount
to
Amount
to
Amount
to
Amount
to
Total
Total
Total
Total
Ref.
Assets
Assets
Assets
Assets
No.
$
%
$
%
$
%
$
%
786,257,880
47.85
1,033,969,765
50.93
1,332,235,291
54.58
1,750,561,050
59.87
1
72 987 523
4.44
5.43
76,097,032
3.12
88 394 476
3.02
2
726,617,044
44.22
812,331,580
40.00
940,317,256
38.52
979,821,329
33.51
3
7,650,242
.46
5,924,758
.29
8,029,742
.33
6,256,277
.21
4
35,166,746
2.14
48,647,957
2.40
59,350,539
2.43
70,242,051
2.40
5
14,486,747
.89
19,303,239
.95
24,996,947
1.02
28,804,909
.99
6
1,643,166,182
100.00
2,030,334,684
100.00
2,441,026,807
100.00
2,924,080,092
100.00
590,346,339
35.92
774,671,935
38.15
973,042,346
39.85
1,070,377,865
36.61
7
1,037,337,032
63.13
1,238,051,967
60.98
1,444,074,641
59.16
1,827,497,816
62.50
8
1,554,066
.10
1,661,847
.08
5,994,407
.25
3,893,705
.13
9
3,562,599
.22
2,151,810
.11
393,190
.02
10
10,366,146
.63
13,797,125
.68
17,522,223
.72
22,310,706
.76
11
1,643,166,182
100.00
2,030,334,684
100.00
2,441,026,807
100.00
2,924,080,092
100.00
8,690,719,322
9,585,985,295
10,643,146,936
11,922,153,057
206
Annual Report — Registrar of
Loan and Trust Corporations
COMPARATIVE SUMMARY
1962
Ref.
INO.
Loan
Trust
Loan
L/UKrUKA-
Com-
Totals
Corpora-
TMrTYN/TR AMT4 BYPPNTYnTTTlP
mXAJttaH /VLNJJ CATcLNUl 1 LIKE
TIONS
panies
tions
INCOME
$
$
$
$
1
1,115,669
924,767
2,040,436
1,385,908
2
51,258,390
7,006,831
58,265,221
61,810,658
3
Profit on sale of securities and real estate
501,178
964,404
1,465,582
513,818
4
iJ,10j,JDJ
711 01 «1
5
Agency Fees and Commissions earned
AC. 1J1 Oil
AC Clfl A At
287,349
6
All other revenue for year
Z,U7J,U / O
1 1 QA CHQ
608,556
_
81,1Z4,4jj
11/1 ££o a") 1
(LA CC\C -)OQ
IT YPFlVniTT TOP
7
Tntf^ri^ct lnr»iirr*»H Hnrincr von r
29,526,372
148,374
29,674,746
Jl| l7J,UJ7
8
Loss on sale of securities and real estate
150,428
257,095
407,523
97,253
9
Amount by which ledger values of assets were
written down
719,690
2,443,608
3,163,298
351,187
10
Licences and taxes other than taxes on real estate .
179,104
793,038
972,142
227,527
11
Commissions
1,465,932
439,924
1,905,856
1,572,227
12
All other expenses
7,599,693
52,318,948
59,918,641
9,661,029
13
Transferred to Investment Reserve
1,711,817
1,519,616
3,231,433
1,714,961
14
Provision for Income Taxes
5,243,832
9,914,971
15,158,803
5,825,385
15
6,948,598
13,288,881
20,237,479
7,961,081
Totals
53,545,466
81,124,455
134,669,921
64,606,289
Comparative Summaries
207
OF INCOME AND EXPENDITURE
1963
1964
1965
Rep.
Trust
Loan
Trust
Loan
1RUST
No.
Totals
Corpora-
Com-
Totals
Corpora-
Com-
Totals
panies
tions
panies
tions
panies
$
$
$
$
$
$
$
$
749,647
2,135,555
1,521,638
848,965
2,370,603
1,327,221
872,263
2,199,484
1
7,400,623
69,211,281
76,799,689
8,673,465
85,473,154
96,643,615
9,237,989
105,881,604
2
1,388,860
1,902,678
763,070
2,213,320
2,976,390
849,337
563,125
1,412,462
3
78 8"}"}
XO,OJJ,JJJ
<-0,OJJ,JJJ
"\f> 807 5V7
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40,701,250
40,701,250
4
50,733,698
51,021,047
483,075
55,879,525
56,362,600
257,371
62,147,741
62,405,112
5
953,370
1,561,926
698,109
844,473
1,542,582
1,593,652
2,289,805
3,883,457
6
00 ftSO 7^1
OA OiCC CQ1
ms ^S7 ^n^
185 697 88fi
inn fi7i 106
115,812,173
216,483,369
34,920
37,230,559
46,306,593
17,218
46,323,811
60,268,739
194,542
60,463,281
7
189,326
286,579
43,404
120,628
164,032
119,134
142,080
261,214
8
800,507
1,151,694
966,559
2,766,200
3,732,759
1,393,832
3,121,472
4,515,304
9
822,679
1,050,206
285,664
923,078
1,208,742
323,563
1,165,039
1,488,602
10
390,081
1,962,308
2,540,879
847,387
2,300,253
2,656,840
799,317
3,456,157
1,989,283
3,704,244
2,577,959
3,490,101
6,068,060
3,368,170
1,987,842
92,808,600
12
61,974,741
71,635,770
11,910,278
68,409,085
81,407,376
15,109,417
77,699,183
5,356,012
13
10,971,919
16,797,304
6,442,433
13,488,466
19,930,899
6,531,740
13,596,995
20,128,735
14
12,886,275
20,847,356
9,191,812
15,295,142
24,486,954
10,899,761
17,105,703
28,005,464
15
90,059,731
154,666,020
80,265,581
105,357,305
185,622,886
100,671,196
115,812,173
216,483,369
208
Annual Report
— Registrar of Loan and Trust Corporations
AVERAGE RATES OF INTEREST AND DIVIDENDS EARNED OR INCURRED AND
AVERAGE DIVIDENDS PAID BY LOAN AND TRUST CORPORATIONS
FOR THE YEAR 1962
Average rate earned on:
Mortgages on realty
Loan
Corporations
Trust Companies
Company
Funds
Guaranteed
Funds
7.65
4.63
5.57
3.10
4.94
5.03
9.25
5.39
5.69
7.05
4.97
2.27
3.45
4.58
Bonds and debentures
Stocks
Average rate paid on :
Deposits
Debentures or G.I.R.'s
% of dividends paid to shareholders' equity
5.19
FOR THE YEAR 1963
Average rate earned on:
Mortgages on realty
Bonds and debentures
Stocks
Average rate paid on:
Deposits
Debentures or G.I.R.'s
% of dividends paid to shareholders' equity
Loan
Corporations
7.29
5.35
5.35
3.16
5.24
4.90
Trust Companies
Company
Funds
8.12
4.84
5.13
4.84
Guaranteed
Funds
6.76
5.52
3.96
3.58
4.85
FOR THE YEAR 1964
Average rate earned on:
Mortgages on realty
Bonds and debentures "
Stocks
Average rate paid on:
Deposits
Debentures or G.I.R.'s
% of dividends paid to shareholders' equity
Loan
Corporations
7.30
4.77
5.36
3.18
5.20
4.68
Trust Companies
Company
Funds
7.27
4.99
4.94
4.96
Guaranteed
Funds
6.77
5.33
4.00
3.59
4.74
FOR THE YEAR 1965
Average rate earned on:
Mortgages on realty
Bonds and debentures
Stocks
Average rate paid on:
Deposits
Debentures or G.I.R.'s
% of dividends paid to shareholders' equity
Loan
Corporations
7.41
5.01
5.52
3.33
5.40
4.31
Trust Companies
Company
Funds
7.33
4.88
4.70
4.83
Guaranteed
Funds
6.45
5.73
1.29*
3.59
4.90
♦Note: This calculation is affected by large dispositions at the beginning of the year and one
l irge acquisition late in the yeear.
HALF-YEARLY STATEMENTS
OF
DEPOSITS
AND
SECURITIES ON HAND AND AVAILABLE FOR DEPOSITORS
FILED BY
LOAN AND TRUST CORPORATIONS
DECEMBER 31, 1965 AND JUNE 30, 7966
PURSUANT TO SECTION 151 OR 150 (3) OF THE LOAN AND
TRUST CORPORATIONS ACT.
Sec. 151. Every loan company receiving deposits shall make a return to the Registrar half-
yearly on or before the 3 1st days of January and July in each year, drawn in accordance with
the form prescribed by the Registrar, showing the amount of the deposits and showing the
amount of cash on hand and on deposit and the amount of debentures, bonds, stock or other
securities of or guaranteed by Canada, and of or guaranteed by any province of Canada less
any encumbrances thereon and the amount of bonds, debentures and other securities of any
municipal corporation in Ontario, or of any city in Canada, less any encumbrances thereon and
the bonds or debentures issued by any company incorporated in Canada in respect of which
bonds or debentures annual or semi-annual subsidy payments sufficient to pay both principal
and interest thereof are, by virtue of any Act of Canada or of a Province thereof, payable by
the government of Canada or province thereof to a trust company as trustee for the holders of
such bonds or debentures, and the principal amount of any moneys payable to the company on
demand, the payment of which is secured by the mortgage or pledge of any of the securities
mentioned in this section as such amounts stood at the end of the last preceding month, and
stating that the same were at the date mentioned in the return on hand and available for
depositors.
Sec. 150. — (3) Every trust company receiving deposits in the manner authorized by sub-
section 1 of section 80 shall make a return to the Registrar on or before the 31st days of January
and July in each year, drawn in accordance with the form prescribed by the Registrar, showing
the amount of the deposits and showing the amount of cash on hand and on deposit, and the
amount of debentures, bonds, stock or other securities of, or guaranteed by Canada, and of, or
guaranteed by, any province of Canada, less any encumbrances thereon, and the amount of
bonds, debentures and other securities of any municipal corporation in Ontario or of any city
in Canada, less any encumbrances thereon, and the bonds or debentures issued by any company
incorporated in Canada in respect of which bonds or debentures annual or semi-annual subsidy
payments sufficient to pay both principal and interest thereof are, by virtue of any Act of Canada
or of a province thereof, payable by the government of Canada or province thereof to a trust
company as trustee for the holders of such bonds or debentures, and the principal amount of
any moneys payable to the company on demand, the payment of which is secured by the
mortgage or pledge of any of the securities mentioned in this subsection as the said amounts
stood at the end of the last preceding month, and including in such return all such cash and
securities and loans as defined in this subsection, whether owned by the company or held by it
for guaranteed investments under section 80 or 82 and stating that the same were on hand at
the date mentioned in the return.
209
210
Annual Report —
Registrar of Loan and Trust Corporations
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— December 31, 1965 211
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LIST OF
LOAN AND TRUST CORPORATIONS
REGISTERED IN ONTARIO
216
Annual Report — Registrar of Loan and Trust Corporations
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218
REVIEW OF 1966 LEGISLATION
At the 1965-66 session of the Legislature amendments to The Loan and Trust Corporations
Act were enacted by The Loan and Trust Corporation Amendment Act, 1966 (Chapter 222, Statute
of Ontario, 4th Session, 27th Legislature). A summary of this legislation is printed below.
Section 1. Amendment due to changes in those sections applicable to Provincial Corporations,
only.
2. Increases minimum capital requirements for incorporation to $500,000.
3. Section 24 repealed. Proxy provisions, contained in Sections 75 to 75g of the
Corporations Act (Ontario), made applicable to Loan & Trust Corporations.
4. Section 25a added. Insider provisions, contained in Sections 71 to 7 If of The
Corporations Act (Ontario), made applicable to Loan and Trust Corporations.
5. Increases minimum subscribed capital requirements to $500,000.
6. Repeals Section 74 and substitutes new liquidity reserve requirements for Loan
Corporations.
7. Repeals Section 84 and substitutes new liquidity reserve requirements for Trust
Corporations.
8. Section 117(a) added. Additional powers of enquiry and publishment of enquiries,
granted to Registrar.
9. Section 131 repealed and amended. Complementary to section 5.
10. Section 137 dealing with investment powers of Loan Corporations amended.
11. Section 139 dealing with investment powers of Trust Corporations amended.
12. Section 141 dealing with investment powers of Loan & Trust Corporations amended.
13. Section 142 dealing with investment powers of Loan & Trust Corporations amended.
14. Section 148 dealing with investment powers of Loan & Trust Corporations amended.
15 & 16. Section 150 and 151 amended. Now provides that Liquidity Returns are to be filed
quarterly in lieu of semi-annually.
17. Section 152 amended to provide that Corporations are obliged to file annual statements
within two months of their fiscal year end.
18. Act comes into force on a day to be named by the Lieutenant Governor by his
proclamation (January 1, 1967).
19. Title.
Gore,
iofl|
L|6
Ontario. Registrar of
Loan and Trust Corporations
Loan and trust corpor-
ations 1 statements
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